Later on hitting a new all-time high, the toll of Ether (ETH) could potentially head to $10,500, according to a strategist at major market place research company Fundstrat Global Advisors.

Fundstrat strategist David Grider commented on ETH hitting new historical records of about $one,430 in an investor annotation on Tuesday, Bloomberg reported. Grider said that the second-largest cryptocurrency could climb more than sevenfold to $10,500 after setting a new tape.

The strategist reportedly said that Ether is now "the all-time risk/advantage investment play in crypto," emphasizing that the Ethereum blockchain is the biggest foundation for decentralized finance, or DeFi, applications. "Blockchain computing may be the future of the cloud," Grider noted.

As Ethereum has been progressing with its proof-of-stake upgrade, its network has the potential to scale significantly and process transactions at a level like to Mastercard and Visa, the strategist added.

The latest Ether prediction comes every bit ETH finally broke its new historical record on Jan. 19, about 10 days after Bitcoin hit its $42,000 ATH on Jan. 8. Despite Bitcoin outpacing Ether to be the start coin to postal service a new ATH after the 2017 crypto rally, Bitcoin is patently less pop in terms of daily transactions and then far. According to January data from crypto analytics firm Messari, the Ethereum network at present has up to 28% more than transactions daily than Bitcoin.

At publishing time, ETH is trading at $1,290, down almost 9% over the past 24 hours. Over the by 30 days, the altcoin has surged more than than 100%, co-ordinate to Cointelegraph'south ETH cost index.