Ethereum Price Prediction: Could Hit $8,000 as Stablecoin Activity Soars

Ethereum has experienced a notable price drop in October, dropping by 6% amid surging activity within its stablecoin ecosystem. This surge has been fueled by a record monthly transaction volume for Ethereum stablecoins, reaching a staggering $2.8 trillion. A leading analyst predicts this could lead to a major breakout in the value of ETH, potentially hitting $8,000. This prediction is based on the growing utility and use of Ethereum as well as increasing investor confidence.