A celebrity endorsement goes a long way with cryptocurrency. As a new frontier of technology, it’s easy for an investor to get caught up in jargon and generally be confused. Which cryptocurrency is the best to invest in? Which blockchain network is the best to get started with? What fits my needs? An endorsement from a celebrity is a stamp of approval from somebody one might trust. Mark Cuban is a billionaire entrepreneur who many trust when it comes to investment advice. And with his endorsement of Ethereum (CCC:ETH-USD) today, investors are turning to the second-largest crypto. ETH is seeing gains, and investors want to see some Ethereum price predictions so they can anticipate how high it might go.
Mark Cuban is one of the most famous crypto bulls there is. The Shark Tank star and Dallas Mavericks owner has been giving the industry love for a long while now. Endorsements of networks like Chainlink (CCC:LINK-USD) and Polygon (CCC:MATIC-USD) have helped to boost the value of each network’s crypto and brought new users to the products.
Most famously, Cuban has been bullish on Dogecoin (CCC:DOGE-USD). The entrepreneur calls it a “fun” investment and thinks it can teach investors how cryptos work on a basic level. He also is certain of the coin’s utility as a future stablecoin and mode of transaction; in fact, his Dallas Mavericks team accepts Dogecoin as a method of payment on its web store.
Cuban’s Comments on ETH Spur Interest in Ethereum Price Predictions
This week, Cuban is giving Ethereum a boost through a huge statement about its ETH coin’s worth. “I think Ethereum has the most upside,” he told CNBC.
Cuban cites Ethereum’s smart contract capabilities as a huge reason for his belief. After all, the tool has revolutionized the creation of dapps on blockchain networks, and it has opened the doors for the booming non-fungible token (NFT) trend that is sweeping the digital currency space.
And while Cuban didn’t mention it in his interview, the network is continuing to grow and prove this worth that he claims. It’s preparing for an upgrade at the end of October, which will set the pace for the largest overhaul Ethereum has ever seen. Indeed, the next year will see Ethereum’s energy consumption vastly decrease, while its efficiency hugely increases, as a result of its Merge upgrade.
This morning, in the aftermath of Cuban’s bullish case for ETH, the coin’s value is surging nearly 9%, equal to over $300 in growth per coin. Investors are flocking to the coin, boosting its trading volume by nearly 30%. So what’s next for the future of Ethereum? Is it really the world beater that Mark Cuban thinks it is? Let’s take a look at some Ethereum price predictions and see what the consensus is:
- WalletInvestor thinks Ethereum will see huge growth over the next 12 months. By October of 2022, the site anticipates ETH to bloom from its current $3,800 value to nearly $6,000.
- CoinPriceForecast’s end-of-year prediction put ETH over $5,000 in just the coming months. By December, the site anticipates a price of $5,385 for the coin.
- The Economy Forecast Agency predicts ETH will close out this year at $3,570. By October of next year, it expects a rise to $8,926.
- DigitalCoin is targeting a price of $5,300 for ETH as 2021 comes to a close.
On the date of publication, Brenden Rearick did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.