• Yorke Rhodes, Microsoft’s director of digital transformation believes that Ethereum will become a decentralized app store by 2023. 
  • Analysts are bullish on Ethereum price, predicting that the altcoin is on track to hit a new all-time high. 
  • Holdings of small Ethereum wallets have grown consistently over the past three years, indicating accumulation by investors. 

A director of Microsoft is bullish on Ethereum’s adoption over the next two years. Ethereum price has recovered from the price drop over the past two weeks and the altcoin is now on track for a new all-time high. 

Ethereum price heads to a new all-time high

Yorke Rhodes, Director of Digital Transformation at Microsoft has made a bold prediction on Ethereum. Rhodes believes that Ethereum will become the new decentralized app store. 

As a flagship marketplace for web3 applications, Ethereum adoption could skyrocket within the next two years. The idea is based on the potential of the Ethereum network as a hub for decentralized applications. 

Ethereum hosts about 3,000 decentralized applications on its network. Based on data from Glassnode, whales with over 100,000 ETH in their wallet have been distributing their holdings for over a year.

The overall supply of Ethereum is more decentralized than it was three years ago. Interestingly, small wallet investors have accumulated more Ethereum, consistently over the same time period. This decentralization and accumulation is indicative of Ethereum’s rising popularity among investors. 

Ethereum supply distribution among small and large wallet investors demonstrates this trend. 

Ethereum: Relative address supply distribution

Ethereum: Relative address supply distribution

@Pentosh1, a pseudonymous cryptocurrency analyst has noted that Ethereum price still has one last major leg-up against Bitcoin. The analyst observes that Ethereum broke out of its seven month consolidation phase and is now ready to rally. 

@IAmCryptoWolf, another pseudonymous analyst, is bullish on Ethereum. The analyst has predicted a new all-time high for Ethereum. 


Information on these pages contains forward-looking statements that involve risks and uncertainties. Markets and instruments profiled on this page are for informational purposes only and should not in any way come across as a recommendation to buy or sell in these assets. You should do your own thorough research before making any investment decisions. FXStreet does not in any way guarantee that this information is free from mistakes, errors, or material misstatements. It also does not guarantee that this information is of a timely nature. Investing in Open Markets involves a great deal of risk, including the loss of all or a portion of your investment, as well as emotional distress. All risks, losses and costs associated with investing, including total loss of principal, are your responsibility. The views and opinions expressed in this article are those of the authors and do not necessarily reflect the official policy or position of FXStreet nor its advertisers. The author will not be held responsible for information that is found at the end of links posted on this page.

If not otherwise explicitly mentioned in the body of the article, at the time of writing, the author has no position in any stock mentioned in this article and no business relationship with any company mentioned. The author has not received compensation for writing this article, other than from FXStreet.

FXStreet and the author do not provide personalized recommendations. The author makes no representations as to the accuracy, completeness, or suitability of this information. FXStreet and the author will not be liable for any errors, omissions or any losses, injuries or damages arising from this information and its display or use. Errors and omissions excepted.

The author and FXStreet are not registered investment advisors and nothing in this article is intended to be investment advice.

Cryptos feed Join Telegram

Recommended content

Recommended Content

Editors’ Picks

No more Dogecoin, Shiba Inu and Tezos rewards says Crypto.com

No more Dogecoin, Shiba Inu and Tezos rewards says Crypto.com

Crypto.com made significant changes to Crypto Earn, the product that allows users to stake their assets and earn rewards in exchange. Shiba-Inu-themed meme coins and several other cryptocurrencies were pulled out of the program and FTM, ZIL, and NEAR were added. 

More Crypto.com News

Former Ripple CTO is dumping millions of XRP, traders beware

Former Ripple CTO is dumping millions of XRP, traders beware

XRP price shows promise that it is ready to trigger a massive run-up as the first half of the year comes to an end. There are three reasons why investors should be bullish on Ripple.

More Ripple News

This is how Cardano’s Vasil hard fork can impact ADA price

This is how Cardano’s Vasil hard fork can impact ADA price

Cardano price seems to be preparing for massive gains as Vasil hard fork takes one step closer to becoming a reality. In a recent Twitter thread, IOHK, the developers behind Cardano announced the launch of Cardano node 1.35.0 on June 25.

More Cardano News

How trade SafeMoon price for a quick profit?

How trade SafeMoon price for a quick profit?

SafeMoon price gets ready for a quick run-up amid a bearish challenge. As a result, SAFEMOON has been consolidating below a crucial resistance barrier. Investors can expect the altcoin to resume its run-up soon.

More SafeMoon News

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin: Everything you need to know about BTC 200-week MA

Bitcoin price has gone through turbulent times over the last few months. From reaching a new all-time high to hitting yearly lows and revisiting levels since 2020, the crypto markets have been extremely volatile.

Read full analysis