Raoul Pal, a former Goldman Sachs executive, feels that Ethereum ETH’s price can easily reach $20,000 this cycle according to Metcalfe’s Law.
A news post on cryptoglobe says that Raoul Pal, a former Goldman Sachs executive feels that Ethereum ETH that is the second-largest cryptocurrency by market cap can reach $20000 this cycle according to Metcalfe’s Law.
Based on his next Global Macro Investor (GMI), Pal said that it is all Metcalfe´s Law. It means, ETH = BTC and that is the truth. Investors must learn to accept it and push likewise. Pal has made a model for demonstrating Metcalfe’s Law using active addresses.
Raoul Pal, who is the CEO and founder of Global Macro Investor and Real Vision Group, had this to tweet.
Pal also used the cryptocurrency’s price and the market cap. He used to work at Goldman Sachs before he eventually founded macro-economic and investment strategy research Global Macro Investor (GMI).
Pal points out to Ethereum ETH saying that the market trends are more or less the same as Bitcoin. He thinks it is the same as the active addresses. Pal says that it is worth nothing the working of Metcalfe’s Law.
In the same tweet, Pal adds some charts that highlight the market price of ETH and mentions Ethereum’s growth is the same as Bitcoin’s. The market cap for ETH is growing quicker than to BTC.
Pal mentions that it is based on the 1 million active addresses. On the current price of Ethereum ETH and Pal’s predictions, cryptocurrency may see the same results as Bitcoin’s last cycle. According to data on CryptoCompare, Ethereum is trading at $1,230 and close to $1400.
BTC is now at $40000 rose fast from $38300. Raoul Pal cleanly mentions that the current form of Bitcoin is good and much better than what everybody saw in the year 2017. Pal says that it is gigantically different from what was seen then based on the market structure.
A few months earlier, last November 2020, Pal exclaimed his 98% net worth is in cryptocurrency.
Furucombo DeFi Money Lego App Receives $1.8 Million Investment
DeFi aggregator Furucombo was able to get a $1.85 million investment ahead of its token launch. It was able to get the attention of investors due to the money legos concept.
A news publication on cryptobriefing Decentralized finance aggregator platform Furucombo managed to gain a $1.85 million funding before its token launch. Few of the investors include Defiance Capital, SevenX Ventures, 1Kx, and Multicoin Capital.
The latest $1.85 million investment is days before they announced that they are going to be releasing the native token. Furucombo provides users with a drag-and-drop DeFi feature that does not have permission for designing a custom strategy from different DeFi projects.
CryptosOnline.com is your one-stop for everything related to crypto news had to tweet on this development.
Hsuan-Ting Chu, the CEO and co-founder of Furucombo said they want to simplify the complex crypto niche. Furucombo wants to debunk that DeFi services are too complicated. Hence, they have come up with complex protocols into DeFi legos for users to design DeFi strategies.