Key Takeaways:
- Ethereum (ETH) price is stuck under $2,000 for over a year.
- Experts at Finder believe ETH price could hit $2,400 by the end of the year.
- What are the factors propelling the altcoin?
YEREVAN (CoinChapter.com) – Ethereum token Ether (ETH), the largest altcoin with a market cap of nearly $225 billion, changed hands at $1,860 on July 28.
Experts believe Ethereum could hit $5,800 by 2025.
However, according to a survey conducted by Finder, in which a panel of 29 industry specialists gave their thoughts on how ETH will perform through to 2030, the Altcoins’ price will reach $2,400 by the end of 2023 after possibly peaking at over $2,700. These experts also predict Ethereum (ETH) price will hit $5,800 by the end of 2025 and over $16,400 by the end of 2030.
Notably, the token has not been successful in effectively conquering the $2,000 ceiling since May 2022. But one of the respondents, the managing director at Digital Capital Management, Ben Ritchie, has an above-average end-of-year prediction of US$3,200. He attributed the expected success to the Merge and Ethereum’s consequential full shift to proof-of-stake consensus.
There is a potential for a future supply squeeze, supported by a gradual emission rate, staking, and the network effect, which could drive the price of Ethereum to approximately US$3,200 within the current year – and even exceed US$12,000 in the long run.
asserted the expert.
Alex Svanevik, the CEO of the data analytical platform Nansen, also gave an optimistic prediction of $3,400.
Ethereum has the most active developer ecosystem among blockchains. Economic activity Ethereum is the closest thing we have to a digitally native GDP. And as this GDP grows, with the soundest monetary policy of any economy, ETH will outperform most other major assets.
he said.
Regulatory factors could propel ETH
Moreover, the possible approval of BlackRock’s Bitcoin spot ETF could propel the approval of a similar Ethereum-based fund. 70% of the Finder survey respondents were positive on the matter, while 15% were unsure, and another 15% did not believe an ETH spot ETF is a possibility.
US Securities and Exchange Commission’s (SEC) recent scrutiny of altcoins turned beneficial for Ethereum, given its relative “immunity” to being categorized as a “security.” However, the question remains, will that immunity continue? Experts had different answers.
At the moment, the SEC has not ruled out considering ETH security. However, the altcoin has relative protection due to the “Hinman speech.” William Hinman is the former Director of the Corporation Finance Division at the SEC. In his June 2018 speech, Mr. Hinman voiced his position on defining digital assets.
Putting aside the fundraising that accompanied the creation of Ether, based on my understanding of the present state of Ether, the Ethereum network and its decentralized structure, current offers and sales of Ether are not securities transactions.
said the former official.
