• Ethereum (ETH) is the native cryptocurrency of the blockchain platform, Ethereum.
• The launch of Ether (ETH) was done through an initial coin offering (ICO) in August 2014.
• In 2023, Ethereum (ETH) price prediction is bullish and will likely reach $2500 soon.
What is Ethereum (ETH)?
Ethereum (ETH), known as Ether, is the native cryptocurrency of Ethereum. It is a second-generation blockchain-based software platform which revolutionized the DeFi sector by introducing smart contracts. Launched in 2015, the entire network gets fueled by Ether (ETH). Vitalik Buterin released its whitepaper in 2013 paving way for its launch. The platform acts as a launchpad for several other crypto tokens, DeFi protocols and decentralized applications (dApps). Thus it’s regarded as “world computer”. Smart contracts are coded programs that execute autonomously with pre-defined conditions on Ethereum and get deployed and executed via Ethereum Vending Machine (EVM).
Current Market Status
As per CoinGecko, current ETH price is $33752 and 24 hour trading volume stands at $88169 million. 24-hour price change is 0.8% down while circulating supply currently stands at 120455398 units all time high being recorded on 10th November 2021 at $487826 per unit.
Transition to PoS
From 2020 onwards, developers have started preparing for transition from proof-of-work consensus to proof-of stake consensus with merge upgrade set for 15th September 2021. This will convert ether from inflationary token to deflationary token due to which prices might see a surge in coming months or years.
Price Prediction 2023
Ethereum holds 2nd position on CoinGecko currently with predicted bullish prices reaching up to $180526 -$2109799 range while bearish prediction hovering around $1291 only in 2023 itself according to trends observed using statistics ,price patterns ,RSI ,RVOL etc .
Conclusion
In conclusion , we can say that Ethereum(ETH) has great potential of surging past its all time highs if transition from PoW to PoS goes smoothly and current bullish trend continues which could lead us towards bulls eye of hitting 2500$ very soon .
