Will ETH Price Go Up? | Ethereum is the second-best crypto asset in the market, following Bitcoin. Ethereum is not only a coin, it is also a versatile platform for decentralized application developers. It is one of the most popular digital assets globally, and you can find it on all popular crypto platforms (Binance, Coinbase, WhiteBIT, etc).
Today (early June 2022) the ETH USDT is traded at $1,910. However, some experts predict that the Ethereum price will grow by 400% by the end of this year.
How Ethereum Price changed
Since its creation, the ETH rate shows enormous growth. Right after its launch, the ETH price changed from $0.311 to $4,800. Recently, we witness the ETH price drop to $1,900 (early June 2022).
This is the first blockchain in the history of crypto to use smart contracts. They guarantee the execution of transactions using complex algorithms and codes. It is reliable and has earned an ideal reputation among developers and investors.
ETH coins are received by analogy with Bitcoin – through the Proof-of-Work consensus. It implies using complex high technological equipment to create a new block in the Ethereum network. Over time, it became more difficult and costly to add each new block, besides, the price for equipment raised, so the developers plan to transition to Ethereum 2.0, where the Proof-of-stake consensus will be used. That is supposed to be an energy intensive option to receive coins.
Will the Ethereum price go up?
Experts’ opinions were divided:
- Some say, it is hard to forecast the ETH price
- Others say the rate will be especially volatile because of the transition to Ethereum 2.0.
This transition will definitely make the asset more attractive for users, but we still need to see the reaction of investors and companies creating their projects on the top of the Ethereum blockchain.
We have no doubts that the Ethereum blockchain will only benefit from the coming changes and extend its usage even wider. Moreover, the majority of NFT projects are built on this blockchain. Actually, it has a wide range of use cases in gaming, DeFi, and entertainment. So we have all the reasons to be optimistic about the future ETH rate relying on the project’s versatility and credibility. Maybe right now, it is the best time to buy Ethereum at a lower price to gain a fortune when the rate increases.