Why Aragon Co-Founder Sees Ethereum Price Surpassing $1,000

Earlier this month, Aragon co-founder Luis Cuende revealed that he sees the price of Ethereum, which remains at around $261, hitting $1,000 in the long run.

In an interview with Sindre Hopland, the media producer at Itnig, Cuende explained that the Ethereum market along with the ICO industry is growing at an exponential rate. Both large-scale and small companies are actively investing in the efficiency of Ethereum network in automating operations with the utilization of smart contracts.

Aragon, which in essence is similar to EOS, the company that completed the largest ICO to date at $185 mln, is attempting to provide an infrastructure in which businesses can utilize Ethereum and smart contracts to lower expenses and costs of operations.

Cuende led the company to raise more than $28 mln in its initial coin offering (ICO) for ANT tokens, which was endorsed by early-stage venture capital firm focused on Bitcoin, Blockchain and virtual reality, established by billionaire investor Tim Draper’s son Adam Draper.

Ethereum price hitting $1,000
During the interview, Cuende revealed his bold prediction for Ethereum price and explained that he sees Ethereum’s native token Ether hitting $1,000 in the long run.

“I thought it was expensive one year ago when it was at 13 dollars, but today when I see the possibilities created by the technology, I think it's cheap. I believe Ethereum will be worth $1,000 in a couple of years,” said Cuende.