• Ethereum (ETH) is the native cryptocurrency of Ethereum, a blockchain platform that revolutionized the blockchain and DeFi sector by introducing smart contracts.
• ETH price prediction for 2023 is $1954.16 to $2327.29, with a bearish prediction of $1460.42.
• The Merge upgrade will transition the Ethereum network from proof-of-work consensus to proof-of-stake consensus in September 15th, 2021.
What is Ethereum?
Ethereum (ETH), known as Ether, is the native cryptocurrency of Ethereum – an open-source blockchain platform that revolutionized the blockchain and DeFi sector by introducing smart contracts. This second-generation blockchain was launched in 2015, with its native crypto coin ether (ETH) launching through an initial coin offering (ICO) in August 2014. The entire Ethereum network is fueled by Ether (ETH). Smart contracts are coded programs that execute autonomously with pre-defined conditions on Ethereum, deployed and executed via the Ethereum Vending Machine (EVM). Since it’s launch, this blockchain based software platform has functioned as a potential launchpad for several other crypto tokens, DeFi protocols, and numerous decentralized applications (dApps).
Current Market Status
As of April 28th 2023 at 5:50pm EST., Etherum’s current price was $1,901.21USD; 24 hour trading volume was 10,937,428,120 USD; 24 hour price change was 1.29% up; circulating supply was 120Million All Time High achieved on November 16th 2021 when ETH reached 4891.70 USD
Prediction For 2023
The bullish ETH price prediction for 2023 is $1954.16 to $2327.29 while bearish predictions are estimated at around$1460.42 USD . To make this prediction more accurate trader friendly technical analysis indicators have been used to analyze past patterns which can help predict future movements of the Cryptocurrency market
The Merge Upgrade
In 2020 developers began preparing for transitioning from proof of work consensus to PoS consensus for The Merge upgrade set for September 15th 2021 after which Ether will become deflationary from being inflationary prior to The Merge upgrade
Although there are many factors that affect pricing such as speculation from investors and news reports it seems likely that Ethereum will continue to remain one of the most popular cryptocurrencies over the next few years and may even reach prices above 3000 US Dollars by 2023 making it an attractive investment opportunity for those interested in investing in Cryptocurrencies