Since its founding in 2015, Ethereum (CRYPTO: ETH) has skyrocketed nearly 153,000% to an all-time high price of $4,892 in November 2021. However, with the overall decline in the cryptocurrency market, the world's second most valuable digital asset now sells for $1,077 per token as of this writing.
Reaching $5,000 per token would equate to a 364% return from today, and it would mean a new peak price for this popular cryptocurrency. Let's discuss why that lofty target is possible, as well as what might get in the way.
As the first programmable blockchain, Ethereum introduced smart contracts to its network, something that Bitcoin doesn't have. A smart contract is a computer program that runs if certain conditions are met, allowing two unknown parties to interact and transact with each other, all without the need for a trusted intermediary. It was a fundamental breakthrough that resulted in Ethereum now being called the world's decentralized computer.
Source Fool.com