Earlier this month, Aragon co-founder Luis Cuende revealed that he sees the price of Ethereum, which remains at around $261, hitting $1,000 in the long run.
Aragon, which in essence is similar to EOS, the company that completed the largest ICO to date at $185 mln, is attempting to provide an infrastructure in which businesses can utilize Ethereum and smart contracts to lower expenses and costs of operations.
Cuende led the company to raise more than $28 mln in its initial coin offering (ICO) for ANT tokens, which was endorsed by early-stage venture capital firm focused on Bitcoin, Blockchain and virtual reality, established by billionaire investor Tim Draper’s son Adam Draper.
Ethereum price hitting $1,000
During the interview, Cuende revealed his bold prediction for Ethereum price and explained that he sees Ethereum’s native token Ether hitting $1,000 in the long run.
“I thought it was expensive one year ago when it was at 13 dollars, but today when I see the possibilities created by the technology, I think it's cheap. I believe Ethereum will be worth $1,000 in a couple of years,” said Cuende.
5 Goals Ethereum Should Achieve To Scale and Reach
However, Cuende was also quick to admit that the cryptocurrency sector along with the Ethereum industry, are yet to offer viable products and fulfill their promises to establish a global decentralized ecosystem of applications.
Cuende noted:
“Crypto hasn’t achieved its promises just yet. When it achieves 10 percent of what it promised to do, I can't even imagine how crazy that will be.”
Many analysts in the past including Coinbase co-founder Fred Ehrsam have repeatedly informed the community in various blog posts and informative writings that Ethereum is yet to scale to a large-scale network for applications.
The vast majority of ICOs are still in their pre-alpha testing phase, including some of the largest ICOs in the history of the cryptocurrency industry including Bancor and EOS.
Hence, Cuende emphasized the importance and the necessity of ICOs to prove their value to their worthy investors and early-stage ICO participators.
https://cointelegraph.com/news/why-aragon-co-founder-sees-ethereum-price-surpassing-1000
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