Can Ethereum Become The Cryptocurrency of the Future?

by | Jul 30, 2022 | Market, Market News, News | 0 comments

After Bitcoin, Ethereum is ranking in the second position in the crypto market. Now in between the volatility of the crypto market, Ethereum(ETH) has massively lost its value. At the time of writing this post, Ethereum is trading at $1479.33 with a 2.44% upward trend. Though within the last couple of months, ETH became lower like other cryptos. From 2015, during its launch to the present time, it has shown several growth times in the market. In the launching period, ETH was trading at $0.311. Later, it sat at its peak at $4800 in the middle of 2021.

Ethereum blockchain has remained always with a unique perspective that made this coin one of the most popular coins after Bitcoin. Users have the opportunity to utilize this platform in the field of different applications and new NFTs. This software network allows its users to utilize it through minting and selling their own NFT or non-fungible tokens. Also, it permits the developer to create new tools for the platform. All in all, it is a more interactive crypto platform than the other. Along with financial transactions and other activities, it has a great grip on music, entertainment, and gaming platforms.

Experts’ Predictions On Ethereum Upcoming Trend :

From the last period of 2021 to now, the crypto market could not cure the bearish condition. Like other coins, Ethereum is also running at a low phase. But experts believe that it has high potential to lead the crypto market in the future.

Several experts predict is ETH could grow in value by as much as 400% in 2022. Even the annual ROI (Return of Investment) could be 300% nearly. This indicates a huge profit gaining potential. Though according to several experts, Ether will be more volatile than the present condition in upcoming months. Apart from that, some experts are expecting that ETh will trade at $14k in 2022. According to Mike McGlone, an intelligence analyst for Bloomberg, Ether will run at $4k to $4.5k by the end of 2022.

Additionally, the bullish trend during mid of 2021 was a historical landmark for the crypto market. This time the crypto market cap was at $3 trillion by November. Though during the downfall of the global crypto market, the market cap fell to $1 trillion. but the bullish trend gave a great opportunity to build a high profitable base for all cryptocurrencies. Now according to the media outlet Coinpedia, if this kind of bullish movement will grab the market again in 2022, then Ethereum will be able to trade at $6.5k to $7.5k.

Ian Balina, the investor and the founder of the crypto research and media company Token Metrics shared his view and told that it is quite clear that Ethereum has the potential to lead the crypto market in the upcoming years. But the other crypto platforms are getting more users at a faster rate as Ethereum is focusing on its future technology without keeping an eye on its high gas fees and low transaction speed.

Why Is Ethereum Losing Its Traffic?

Notably, Ethereum is focusing on its environment-friendly upcoming web3 technology. For the upcoming infrastructure, it is giving less focus on the present users’ satisfaction. Which became a less traffic- base blockchain. Users are preferred to shift to other platforms. But analysts believe that the future web3 technology will be the greatest opportunity for Ether. This platform is creating its base for a long-term optimistic business strategy.  Above all, Ethereum has a 90% grasp on the global NFT market. Which is a great potential to grow during a peak time of the crypto market.