Microsoft director relies on Ethereum, while the altcoin price is heading for a new all-time high

• Yorke Rhodes, Microsoft’s Director of Digital Transformation, expects Ethereum to be a decentralized app store by 2023.
• Analysts are bullish on the Ethereum price and predict that the altcoin is well on its way to hitting a new all-time high.
• The number of small Ethereum wallets has grown steadily over the past three years, suggesting an accumulation by investors.

A Microsoft director is optimistic about the launch of Ethereum over the next two years. The Ethereum price has recovered from the drop in prices of the past two weeks and the Altcoin is now on course for a new all-time high.

The Ethereum price is heading for a new all-time high

Yorke Rhodes, Director of Digital Transformation at Microsoft, made a bold prediction about Ethereum. Rhodes believes Ethereum will become the new decentralized app store.

As the flagship marketplace for Web3 applications, Ethereum adoption could skyrocket within the next two years. The idea is based on the potential of the Ethereum network as a hub for decentralized applications.

Ethereum hosts around 3,000 decentralized applications on its network. Based on data from Glassnode, whales with over 100,000 ETH in their wallet have been distributing their stocks for over a year.

The overall supply of Ethereum is more decentralized than it was three years ago. Interestingly, small wallet investors have accumulated more Ethereum over the same period. This decentralization and accumulation is an indication of the rising popularity of Ethereum with investors.

The distribution of the Ethereum offer among small and large wallet investors shows this trend.

Ethereum: Relative address supply distribution

@ Pentosh1, a pseudonymous cryptocurrency analyst, has noted that Ethereum price still has one last big lead over Bitcoin. The analyst observes that Ethereum has broken out of its seven month consolidation phase and is now ready to rebound.

$ ETH has been using this diagram for a long time

I think Eth has one last big lead over $ BTC. It has now outperformed it in macro for 3 years

Just broken out of a 7 month consolidation span

After that I sell most of me from cold stores in corn or USD https://t.co/QQwhgCpzSq pic.twitter.com/VkFSoQGrrU

– Pentoshi DM’s ARE SCAM (@ Pentosh1) December 23, 2021

@IAmCryptoWolf, another pseudonymous analyst, is bullish on Ethereum. The analyst has forecast a new all-time high for Ethereum.