Fund manager says these 10 metrics show Ethereum (ETH) can reach $10,000

Ethereum (ETH) , the world’s most-used blockchain and second-largest by market cap, set fresh all-time highs yesterday amidst a stronger fundamental narrative. The asset is now up over 1,520% in the past year, and 50% in the past two weeks alone.
But while come would say ETH rise from under $100 in mid-2020 to over $3,400 yesterday could signal the end of its run, Spencer Noon, an investor at early-stage crypto fund Variant Fund suggests the move could just be beginning.
Ethereum to $10,000?
In a tweet thread last week, Noon pointed out ten metrics that showed Ethereum was undervalued at its $397 billion market cap and could run further. “Ethereum dwarfs every blockchain in terms of fees paid, with a current run rate of nearly $7 billion, confirming massive demand for $ETH block space,” he tweeted.
‘Block space’ refers to the limited space in each block processed on the Ethereum blockchain for including transactions and other smart contract information. Higher fees suggest greater demand for including transactions.

#1: Ethereum dwarfs every blockchain in terms of fees paid, with a current run rate of nearly $7 billion — confirming massive demand for $ETH block space. pic.twitter.com/WFJITBdJd7
— Spencer Noon 
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