Crypto analyst Altcoin Sherpa has made a new prediction, forecasting a price surge for Cardano (ADA) soon. In a series of tweets, Martin also updated his forecasts for Ethereum (ETH) and Shiba Inu, noting that both coins could see significant upside in the coming months.
Cardano Price Predictions
Altcoin Sherpa believes that Cardano is about to enter a sideways accumulation phase and reach near $0.60 soon, with the potential for more gains. ADA is changing hands for $0.49 at the moment.
Ethereum is a popular cryptocurrency that many people are watching. Altcoin Sherpa believes he sees key levels hinting at an impending breakout, indicating whether or not this coin has more room to grow in its market cap ranking.
The value of Ethereum has gone up over 5% today, to $1 657 at the time of writing.
Meme coin Shiba Inu has been a popular choice for crypto traders because it tended to explode. However, according to the strategist, the price action is neutral at the moment
Crypto Ethereum Price Analysis
All eyes seem to be on Ethereum (ETH), the second digital currency with the largest market capitalization, which is trading at about $1,592 per unit, capitalizing on gains from the 1.5% in the last 24 hours.
As for Ethereum, the market data reflects an increase that begins just after midnight on September 5, which takes the digital currency to a peak equivalent to about $1,606 per unit a few hours ago, falling slightly.
Expectations Ahead the Merge
The eyes of many enthusiasts and investors are on ETH due to the arrival of The Merge, the next major update for the Ethereum network, which will begin its implementation process this week and will bring important operational changes, among which the change from Proof-of-Work ( PoW ) to Proof-of-Stake (PoS) implying a new method for block processing.
On the positive side is investors’ perspective, who projects that digital currency will become a good financial asset. There is a belief that there will be a greater interest in staking ETH, which would further limit the working capital to finance DeFi and CeFi programs, this hand in hand with the burning systems currently in place after the implementation of EIP-1559.
From the negative perspective, some critics claim that a change in the operating model will compromise the network’s decentralization to ensure greater speed and scalability. Surveys reveal that some of the major exchanges are among the largest validators of Ethereum, which is why they allege possible risks of censorship if there is pressure on them, as happened with Tornado Cash.
Finally, PoW miners are mainly affected after a consensus model change. The possibility of creating an alternate version of Ethereum that keeps mining as it was already working is being handled more and more strongly. It will already have the support of some exchanges and development teams to guarantee its optimal functioning.
Disclaimer: The author’s comments and recommendations are solely for educational and informative purposes. They do not represent any financial or investment advice. Always DYOR (do your own research)