- A recent interview saw Vitalik Buterin state he remains confident about Ethereum becoming mainstream and the leading secure base layer.
- Ethereum network saw its users exploding, touching 18.36 million
- Analysts observe a bullish setup in the ETH price chart, predicting an upward move towards $3,600 for Ether.
Ethereum founder Vitalik Buterin remains bullish as far as the ETH network is concerned. He trusts that Ethereum will be a home for online applications due to its flexible base layer. The leading ‘smart’ contract ecosystem had its users surging within the previous two weeks.
Ethereum Network Active Users Skyrocket Past 18.36 Million
Vitalik Buterin introduced the Ethereum ecosystem to ensure online apps’ base layer. Ethereum has been among the most active networks since 2015.
Meanwhile, the platform achieved another milestone, with active non-zero balance users surging towards 18.36 million. Though some individuals suggest that Ethereum might not be the best in the game because of high fees, applications operating in this ‘smart’ contract site have exploded.
The latest interview saw Buterin telling The Defiant about the significant merge between ETH’s application layer and Proof-of-Stake. The Ethereum’s co-founder presents an optimistic picture for the alt, believing that awaited upgrades may facilitate sustainability on this blockchain.
The increasing applications utility and surged on-chain activity on ETH blockchain mean bullish incentives for Ether price.
Experts analyzed Ethereum’s price movements and observed a bullish formation (inverse head-shoulders). The pattern shows an imminent uptrend and end of bearish actions. A pseudonymous cryptocurrency analyst @Phienix_Ash3s believes ETH will climb towards the value area of $3,600.
FXStreet analysts trust a short squeeze develops in the ETH, possibly brewing an upside spike towards $4,000. Experts argue that $3K remains a vital psychological zone for Ether, and a 24hr close beyond $3,100 might send ETH higher to $4,000.
While publishing this blog, Ethereum changed hands around $3,151.72. Broad market sentiment remains vital for ETHs directional bias. The alt needs to overcome near-term hurdles to support the run-up towards the bullish target of $3,600.
What are your opinions on the Ethereum network and the token’s price? You can comment in the reply section below.
