Excerpt: If one assumes a steep, monotonic increase in price for Ethereum, along with a natural expansion of the network across several other countries, the price of Ethereum will likely touch $16,024.42 by the end of 2030.
Ethereum, which is the second-largest cryptocurrency by market cap, has become a vital part of the decentralized finance (DeFi) and Non-Fungible Tokens (NFT) environments. Ethereum, with its indigenous currency Ether (ETH), has suffered massive instability and growth over the years.
DeFi and NFTs have earned significant traction and have massively contributed to Ethereum’s valuation. DeFi proposes several financial services while NFT is a class of digital collectibles that represent exclusive ownership of assets. Both DeFi and NFT significantly depend on Ethereum’s smart contract feature, making Ethereum a vital component of the digital markets.
Several factors can change the price of Ethereum. For example, factors such as market demand, regulatory developments, technological advancements, and macroeconomic trends. Below are some of the price predictions for the upcoming years.
Ethereum (ETH) Price Prediction from 2023 -2030
The entire of 2023 will be spent recovering from the crypto winter. Ethereum is estimated to touch $3,277.72, and the minimum price can be predicted at $2,185.15. The average price for the years should hover around $2,731.44. Ethereum is predicted to achieve newer heights in 2024 and present an average price of $4,552.39. In 2025, Ethereum is expected to increase to an average of $6,373.35.
If one assumes a steep, monotonic increase in price for Ethereum, along with a natural expansion of the network across several other countries, the price of Ethereum will likely touch $16,024.42 by the end of 2030. Moreover, the average price of the token will steady itself at $15,478.14. The major bull run over the past five-six years is likely to uphold the market sentiment and hence, the price of Ethereum will rise accordingly.
Several other price predictions for Ethereum in the future are provided below.
Ethereum prediction by Raoul Pal
The Chief Executive Officer of Real Vision Group, Raoul Pal says all things positive about Ethereum. In a recent interview, he estimated that Ethereum would reach $20,000 by the end of 2023, and would be a significant hike from its present price.
Ethereum Prediction by Michael Van de Poppe
According to crypto analyst and trader Michael Van De Poppe, Ethereum could achieve a price between $2700 and $3000 in the next couple of months. His estimates are based on the increasing adoption of DeFi and NFTs along with Ethereum’s incoming upgrades.
Ethereum’s Upgrade and its Impact
Etereum 2.0 is a network upgrade that is focused on enhancing the platform’s scalability, privacy, and energy efficiency. This upgrade is highly anticipated by the blockchain community and hence, can have a massive impact on Ethereum’s price.
Ethereum 2.0 is a series of upgrades curated to make Ethereum more scalable and secure. Essentially, the Ethereum network’s upgrade revolves around transitioning from the current Proof of Work (PoW) consensus mechanism to the Proof of Stake (PoS) model. PoS, which is a way to validate transactions on the blockchain, makes the network more energy-efficient and environment-friendly than the PoW model. This transition has gained traction from several investors and crypto enthusiasts who are environment-conscious and want to use a network that is easy on the planet.
Since the most recent Ethereum upgrade uses lesser gas fees, it shall be assumed as the next blockchain of choice. Moreover, the network upgrades enhance the network’s scalability via the application of sharding and several other optimizations. This will enable more transactions per second while lessening the congestion.
In the future, the price predictions are estimated to be bullish, however, the crypto market has shown its instability over the past few years and nothing can be estimated with utmost guarantee.