- In a recent interview, Vitalik Buterin revealed that he was convinced that Ethereum would become mainstream and the most secure base layer.
- The number of users on the Ethereum network exploded, reaching 18.36 million with a non-zero balance.
- Analysts envision a bullish trend in the Ethereum price chart and set a target of $3,600 for the altcoin.
Ethereum creator Vitalik Buterin has an optimistic view of Ethereum and believes that the altcoin network could soon become the world’s computer, a flexible base layer for online applications. The number of users on the largest smart contract platform has exploded in the past two weeks.
The number of active users on the Ethereum network exceeds 18.36 million
Vitalik Buterin created the Ethereum network to develop a base layer for online applications. Since 2015, the Ethereum network has been one of the most active smart contract networks.
Ethereum reached another milestone as the number of active users with a non-zero balance soared to 18.36 million. Although proponents argue that the network may not be the preferred settlement layer due to high transaction fees, the total value of applications running on the smart contract platform has skyrocketed.
In his recent interview, Buterin told The Defiant that the upcoming merger between Proof of Stake (PoS) and Ethereum’s application layer is significant. The co-founder of the Ethereum network has an optimistic view of the altcoin and believes that upcoming updates could help the sustainability of the blockchain.
The increase in on-chain activity and the explosion in the utility of applications on the Ethereum blockchain are seen as bullish catalysts for the price of the altcoin.
Analysts assessed the Ethereum price trend and identified a bullish pattern, head and shoulders reversed. This pattern indicates the end of a bearish phase and the beginning of an uptrend.
@Phoenix_Ash3s, a pseudonymous crypto analyst, has set a target of $3,600 for Ethereum price. FXStreet analysts believe a short squeeze is brewing in the Ethereum network that could trigger a spike at $4,000.
Analysts say $3,000 is a key psychological level for the price of the altcoin, and a daily close above $3,100 could send the altcoin to its $4,000 target.