Ethereum Set for Massive Surge, Predicts Polygon Cofounder 

• Currently, Ethereum is priced at $3,405.51; a 2.16% gain in the day’s trading saw total trading volume decline marginally by 1.07% to $27.25 billion. 
• Another Polygon’s cofounder Sandeep Nailwal believes that ETHEREUM could skyrocket because of the market’s trends and the Layer-2 ecosystem’s development. 
• Ethereum is still trading below the record high of $4,891.70, set on November 15th, 2021 despite working barcode upgrades and the addition of enticing partners. 

Ether (ETH), the second-largest cryptocurrency by market capitalization after Bitcoin, has failed to push past $3,800 in the past month. While Bitcoin continues to trade in the green demonstrating a massive upswing to the delight of traders, Ethereum has underperformed, and people are waiting for some real upwards motion. When writing this report, ETH was at $ 3,405.51 and had risen by 2.16% daily. Besides, trading volume has also slightly declined to $27.25 billion, just 1.07% lower than the previous rate. 

Polygon Cofounder expects Many POS to Join Avalanche 

As estimated by the experienced analyst and the cofounder of Polygon Sandeep Nailwal, a rather rosy outlook can be prepared for Ethereum’s price. Sometimes in the past weeks, Nailwal posted on X that the price of ETH will rally, and it will shock the market by so doing. He believes this way because Ethereum is one of the foundational layers in the crypto industry and remains to be progressed. 

Ethereum is Still Far from Its Apex 

The current price of Ethereum is still 30% down from the record high of $4,891.70 recorded on November 15, 2021. This is the case even though Ethereum has passed through some important updates meant to boost its capacity and speed. The performance was far different from Bitcoin, which has been the darling of the recent market uplift. 

That is why the competencies of Ethereum are so doubtful to Polygon and a range of other Layer-2 initiatives. Nailwal’s optimism may also stem from Polygon’s recent tie-up with Reliance Jio, one of India’s largest telecommunication firms. These two projects are likely to increase the awareness of the platform and strengthen Etherea’s community, which should lead to the formation of the prerequisites for an increase in the price of ETH tokens. 

While Nailwal has gained attention for his confidence, market analysts are warning. They also observe that Ethereum growth is slow and contingent on general market conditions and improvement of the Ethereum upgrades. However, ongoing Layer-2 implementations and integration suggest that the Ethereum network will have future growth prospects.