Microsoft director bets on Ethereum as the altcoin price heads to new all-time high – FXStreet

Ekta Mourya Ekta Mourya
FXStreet

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. 
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. 
$ETH been using this chart for a long time

I think Eth still has one last major leg up vs $BTC. It's outperformed it for 3 years on the macro now

Just broke out of a 7 month consolidation range

Then after that prob sell most of mine from Cold storage into corn or USD https://t.co/QQwhgCpzSq pic.twitter.com/VkFSoQGrrU
@IAmCryptoWolf, another pseudonymous analyst, is bullish on Ethereum. The analyst has predicted a new all-time high for Ethereum. 
$ETH chart clearly says we are going to ATHs.

Both correction completed at the 50% fib
FW structure.
Bounced from weekly 21EMA pic.twitter.com/Zb0Kd3fGPP
 

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Bitcoin (BTC) price is in a tight spot, and subject to some ferocious moves in markets where every asset class has seen outflows of money. Unfortunately, risk assets like cryptocurrencies and stocks have sold off more than bonds and commodities, with only one victory in the forex market: the US dollar.
Ethereum price prediction continues to be a high-risk activity as the second-biggest cryptocurrency continues to fall. ETH price dropped to $1,100 during the Asian trading session on Tuesday and has since bounced back to levels around $1,200 in the European session. 
XRP price is showing strength as it bounces off a stable support level in line with an uptick in bullish momentum and recovery in Bitcoin price. Investors need to tread carefully, however, as the crypto markets are on the precipice of a capitulation move.
Cardano (ADA) price is set to book a solid intraday rally which makes one wonder if ADA traders are aware of what is happening in the markets. With global markets rattled and coiled by inflation worries and several asset classes on the back foot.
BTC is at a point in its journey through the bear market where investors are split into camps that are expecting a relief rally, a continuation of the crash and a full-blown bull rally. Interestingly, none of the aforementioned theses is wrong per se.
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