Cryptocurrency: Could a green Ethereum skyrocket to $ 10,000 by the end of the year?

An increase of 300% for a “green and clean” technology, after all is what many institutions require to invest in the market of cryptocurrencies

Photo: Photo by INA FASSBENDER / AFP via Getty Images / AFP / Getty Images

By the end of this year 2021 there are forecasts that indicate that Ethereum could reach 07, 000 dollars, thanks to new updates that will reach the network of cryptocurrencies, that involve a change of method regarding the confirmation of transactions. This was made known by the financial expert Megan Kaspar through a live on Yahoo Finances.

It is about a more ecological model in the Ethereum blockchain, that is, the same method as Bitcoin will no longer be used , which rewards miners who are competing with each other to record and confirm transactions on their blockchain. Which implies more use of computers and, therefore, energy.

Ethereum plans to adopt a much more efficient share model that will consume less power . It would consist of “choosing a block validator at random based on the quality of ether it controls.”

According to Kaspar, this proof-of-stake model for block validation will reduce by 99. 9% carbon emissions . Without a doubt, this would make Ethereum a green technology, one of the goals of cryptocurrencies to be widely accepted by government entities, among other things.

These updates in the network, explains Kaspar, could bring Ethereum to a market capitalization that reaches Bitcoin, that is, a trillion dollars; this would make Ether cost between 8 per coin, 000 and the 10, 000 Dollars.

This prediction by finance expert Meghan Kaspar matches that of Fundstrat Global Advisors that at the beginning of 2021 set his targets for Ethereum at 05, 500 dollars per currency , which would mean an increase in 300% if we compare it with its current levels.

The ecology in cryptocurrencies would attract more followers, especially at the institutional level, which is where green technology is required: “clean green technologies and that is what Ethereum is becoming” he asserted Kaspar.

Regarding Bitcoin, it is expected to do the same: a transition to confirm transactions. Overall, the statistics say that the crypto mining network ranks 31 of the world energy expenditure ranking . If we compare the energy consumption in Bitcoin mining of the 2021 with other years, we have to the 10 in April of this year, bitcoin had consumed 66 times more electricity than in 2021.

Recall that when it comes to cryptocurrency mining, attention and criticism are increasingly focused on the enormous amount of energy required to keep virtual currency online . Studies indicate that bitcoin emissions can drive global warming up to 2 degrees Celsius.

In an attempt to prevent damage to the environment, New York State has taken the initiative, and in early May introduced a bill that will ban cryptocurrency mining for a time until commitments are made. and limits with the damage to the environment.

IF we return to ethereum (ETH), we highlight that this week it surpasses the barrier of $ 4, 000 per currency, making it a leader in the altcoin charge.