An analyst has taken to the X digital platform to share an ambitious prediction for Ethereum (ETH), where he sees the chief altcoin making a potential growth of 786% in 2024. Still on the altcoins front, AI cryptos, Borroe Finance ($ROE) and Render (RNDR) steadily appear on crypto news as key AI cryptos.
Predictions about different cryptocurrencies on different blockchains are about, and ETH is not left out. 2023 saw okay progress in ETH; however, compared to some other altcoins, it didn't go far. For reference, Solana (SOL) surged close to 1000% while Avalanche (AVAX) rose by over 200%.
As the silver to Bitcoin's (BTC) gold, the outlook on ETH interests the crypto market. With a crypto market cap of $304,986,598,971, ETH is the chief altcoin and is expected to rise whenever BTC does.
With the SEC-approved Bitcoin ETF, the future looks positive for the pioneer cryptocurrency. Add in the coming halving event, and BTC is expected to see a notable surge in 2024. Naturally, this growth will also extend to ETH and many other altcoins. However, as of this writing, BTC is currently down by 3.4% on its 7-day chart.
Also, the approval of the BTC ETF presents a high probability of the approval of the ETH ETF, which is expected by Q2 of 2024. Aside from the anticipated approval of the Ethereum ETF, though, data from a blockchain analytics firm suggests that whales are accumulating ETH. According to the released data, the top 150 self-custody wallets now hold 56.25 million ETH in contrast to the 9.46 million ETH held in exchange wallets.
Following the analyst who shared his beliefs on X, ETH could reach a minimum of $10,000 in 2024 and a maximum target of $20,000. As of the time of his post, he envisaged a potential growth of 786%. While his projections might appear wild, his perspective aligns with current happenings in the space. As of this writing, ETH had risen past the $2,400 resistance level and sold for $2,543.06.
Meanwhile, appearing to prove prior predictions right, AI-cryptos – RNDR and $ROE – are making price movements that excite investors.
The Render Network aims to advance the next generation of rendering and AI technology. It is a distributed graphics processing unit (GPU) rendering network that operates on the Ethereum blockchain.
Render connects those needing GPU compute power with mining partners willing to rent their GPU capabilities. By connecting artists looking to render next-generation 3D media with nearly unlimited GPUs in a decentralized global network, it is no wonder that the price of RNDR is on an upsurge trail. RNDR is the ERC-20 utility token that powers the Render Network.
As of this writing, RNDR was up 4.7% on the 7-day chart and exchanged wallets at $3.91.
While RNDR powers rendering through AI, $ROE powers funding for Web3 businesses.
The Borroe Finance ecosystem is a platform that promotes interaction in the Web3 space and allows Web3 creators to get funded by investors in the emerging world of Web3.
The need for funding might see Web3 founders racing out to traditional financiers, who may need help understanding the workings of the Web3 space, hence presenting cumbersome requirements or methods to the Web3 participants. From heavy paperwork to insecurity to long processing time, traditional methods can hinder Web3 creators who are already moving on to decentralized technologies like decentralized identity, decentralized finance (DeFi), and other decentralized applications (dapps).
Borroe Finance fills the gap and presents these creators with the option of minting NFTs, representing the businesses' recurrent earnings and outstanding income and selling them at a discount to eager investors on the Borroe Finance marketplace.
This project, which qualified team members like Michael Price and Maxim Prishchepo lead, has a smart contract successfully audited by BlockAudit. It has also raised $2,570,937.08 and is in its fourth presale stage.
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