The world’s second-largest cryptocurrency Ethereum (ETH) made a strong move this week above $3,000, outperforming Bitcoin once again. As the ETH price currently trades around $3,100, analysts are hopeful that the ETH price can surge further this year in 2022.
Bloomberg analyst Jamie Coutts believes that the ETH price can touch $6,100 levels based on the discounted cash flow model. The analyst notes that the Ethereum cryptocurrency enjoys a “unique blend of equity, commodity and monetary characteristics.”
Coutts is bullish about ‘The Merge’ of the execution layer and the consensus layer. This will allow users to stake their ETH and earn income out of it. A staggering 30% of the Ethereum transaction fees will be distributed to the stakers.
Thus, growing demand for ETH will further lead to higher fees and higher payout. As per its current performance, the Ethereum network is poised to generate $12.7 billion in fees in 2022.
Another market analyst Ryan Allis, who runs a crypto qu
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