Crypto analyst and trader Tyler Durden has revealed his bullish sentiment towards Ethereum (ETH). The analyst suggested that the ETH rise was inevitable and that it was better for traders to go with the tide. 

Ethereum Is Set To Rise To $10,000

Durden mentioned in an X (formerly Twitter) post that Ethereum to $10,000 is the “most asymmetric bet” in crypto today. He further stated that “as annoying as that is, [it’s] just the way the chips have fallen,” suggesting that ETH’s rise to this price level was inevitable. He also hinted that he would bet on ETH regardless of how he felt about the crypto token, as he noted that traders “trade the market” and not their emotions. 

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The analyst suggested that the Spot Ethereum ETFs will be key in ETH’s rise to $10,000. He claimed that Wall Street made great efforts to ensure that the Ethereum ETFs were approved, including changing Ethereum from a security. As such, he believes that these institutional investors will ensure that they make as much money as they can from these funds while pumping Ethereum’s price. 

Other analysts have also shared similar sentiments to Durden’s as they predict that the Spot Ethereum ETFs will contribute to a massive rally for ETH. Crypto analysts Ash Crypto and Eljaboom also recently predicted that ETH would rise to $10,000 thanks to these funds. Ash Crypto stated that it is just a “matter of time” before Ethereum reaches this price level, with the Spot Ethereum ETFs expected to begin trading soon enough. 

Crypto analysts Altcoin Daily also previously mentioned that ETH to $10,000 is “programmed” and mentioned the Spot Ethereum ETFs as one of the reasons they believe that the crypto token could rise to this price level. According to Bloomberg analyst Eric Balchunas, these Spot Ethereum ETFs could begin trading by July 2. 

These funds are expected to contribute to ETH’s parabolic rise because of the significant inflows they could bring into the Ethereum ecosystem. Crypto research firm K33 predicts these funds could attract between $3.1 billion and $4.8 billion in net inflows within the first five months of trading. 

Why It’s Not Worth Betting Against ETH

Durden alluded to the US Securities and Exchange Commission’s (SEC) decision to drop its investigation against ETH to further emphasize why betting on Ethereum was an obvious play. Ethereum developer Consensys revealed in an X post that the Enforcement Division of the SEC had notified them that they were closing the investigation into whether ETH was a security. 

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They added that this means that the SEC would no longer be bringing charges alleging that the sale of ETH is a securities transaction. The SEC’s potential lawsuit against Ethereum was expected to be a major catalyst that could suppress ETH’s price, just like the SEC’s lawsuit against Ripple, which is believed to have had a negative impact on XRP’s price. 

However, with the SEC opting against bringing charges against Ethereum, ETH’s price looks all set for takeoff as this development adds to the bullish narrative around the crypto token. 

Featured image created with Dall.E, chart from Tradingview.com

An ADA community influencer known as ADA Whale (@cardano_whale) has taken to Twitter to share his observations regarding crypto assets that a large number of people are “hardcore accumulating” during the current bear market. ADA interests them a lot more than regular “VC coins.”

Buying ADA instead of VC coins

He believes that investors prefer to grab Cardano’s ADA, rather than VC coins that fell to the price bottom during the current bear market and the previous one, which began in early 2018 and ended last year with Bitcoin, Dogecoin and other leading cryptos hitting new all-time highs.

VC coins are crypto projects that, at the start, are totally funded by venture capitalists rather than raising money via public offerings, ICOs. After such coins are released, a pump-and-dump scheme happens in the retail market.

ADA Whale believes that people who say they are ready to grab fallen VC coins might be “the usual suspects,” while “new shiny objects will soon appear,” according to the tweet.

Maybe I’m wrong, but I don’t see many people hardcore accumulating fallen VC coins the way we did with ADA in both last and current bear markets. People saying they’re ready to buy in on beaten down VC coins are mostly the usual suspects, and shiny new objects will soon appear

— ADA whale (@cardano_whale) December 28, 2022

Here’s what struck Solana hardest: BitBoy

Controversial crypto YouTuber Ben Armstrong, aka Bitboy, has posted a table of the percentage of electricity consumed by various proof-of-stake-based cryptocurrency platforms per transaction, including Visa, to compare them with a noncrypto giant.

The YouTuber stated that for centralized platforms it is easy to save electricity. He pointed out that Solana decided to bet on “speed through centralization,” and that was the thing that hit its technology the hardest.

Cardano is on the far end of that list, surpassing Algorand, Avalanche, Visa, Polkadot and Tezos. Solana comes at the very start of the list, with the lowest volume of consumed electricity at 0.17%.

Cardano, according to the table, consumes 51.59% per transaction, meaning that Cardano is a lot more decentralized than Solana.

It’s real easy to save electricity when you are centralized. If you are unaware, the prioritization of speed through centralization is the number one thing that hurt the Solana tech. There’s a reason $ADA is top of this list. Get it yet?