As the Ethereum ecosystem continues to grow, understanding how to navigate the decentralized environment is crucial. One market expert has revealed that Ether (ETH) is key to navigating the ecosystem, emphasizing that holding the altcoin is essential for those who want to participate.
The Importance of ETH in the Ethereum Ecosystem
Anthony Sassano, founder of Daily Gwei, in a recent post on X, pointed out the Vai of ETH in strengthening Ethereum's decentralized ecosystem and argued that it is like an entry ticket. Sassano's argument that ETH is an entry ticket suggests that the digital asset is necessary to participate in smart contracts, Non-Fungible Token (NFTs), and DeFi (DeFi) .
According to Sassano, ETH is the only asset that is fully decentralized, censorship-resistant, neutral, and well-distributed on Ethereum , cementing its position as a foundational asset in the entire ecosystem.
He also emphasized that ETH has the deepest liquidation , the strongest network influence, the largest number of holder , and many other characteristics in the ecosystem. These factors will only become stronger over time.
Sassano believes that ETH “has always been a very valuable investment” in the development of the decentralized ecosystem, including the Ethereum mainnet and all Layer 2 solutions and rollups. His comments are consistent with the rapid growth of the ecosystem that one sees every day, with signs that nothing is stopping it, especially when the number of on-chain users in the entire crypto space is very small.
Sassano is therefore very bullish on ETH, expressing his belief that the Ethereum ecosystem will continue to expand and ETH will always be in the midst of growth, making it the primary asset to participate in, thereby driving demand for the altcoin.
Overall, this educator sees ETH as a “programmable currency” with limitless potential in driving the global on-chain economy, which is completely different from traditional currencies.
Is ETH On Its Way To New All-Time Highs?
Currently, ETH is showing negative price movements but many analysts are optimistic about this Token in the near future. Famous cryptocurrency expert and trader, Javon Marks, through analyzing recent price behavior, predicted that Ethereum could reach $4,723.
Marks made this optimistic prediction after noticing a similar pattern on ETH ’s daily chart as in 2023, which led to a surge of over 165%, highlighting that the asset could replicate this bullish momentum. “2023 seems to have become the blueprint for another massive boom that could happen in this crypto market,” he commented.
If this growth repeats, the analyst has set the next target for ETH at $4,723. Furthermore, Marks asserts that a breakout above this level could pave the way for a rally to $8,100 and beyond, reflecting a 2x or more increase in price.
