Ethereum’s potential to skyrocket by 2024 is generating significant buzz in the cryptocurrency community. The bullish case for Ethereum (ETH) is based on a few key factors, including its upcoming transition to Ethereum 2.0 and the consistent growth of decentralized finance (DeFi) applications. Ethereum 2.0, or ETH2, is an upgrade to the current Ethereum blockchain that will improve its scalability, security, and sustainability. This upgrade, along with the increasing adoption of DeFi applications, could potentially drive up the value of Ethereum and attract more investors to the platform.
The growth of DeFi applications, which mostly run on the Ethereum network, has been exponential over the past couple of years. These applications aim to replicate traditional financial systems in a decentralized and transparent manner, which is attracting many users. Additionally, Ethereum 2.0’s proof-of-stake (PoS) consensus mechanism, which is more energy-efficient than Bitcoin’s proof-of-work (PoW), could potentially attract environmentally conscious investors. With these prospective developments, Ethereum’s future looks bullish, and it could experience a significant surge by 2024.
