In the world of virtual or digital assets, people often talk about the hottest and most popular cryptocurrency. Bitcoin, but also keep a close eye on Ethereum, considered the second largest cryptocurrency in the world. There is no doubt that ETH is overshadowed by the larger cryptocurrency BTC, but it surely has a lot to offer.

Crypto enthusiasts generally view ETH as much more than just a digital token and believe that it has enormous intrinsic value that provides unique income opportunities for its investors. Investors expected ETH to reach new highs after the Dencun upgrade, but the cryptocurrency continues its downward trend. As of May 6, 2024, the current value of Ethereum is $3,207, down 34.56% from its all-time high and down 0.70% over the past seven days.

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Let’s take an in-depth look at this guide to see what the future of Ethereum holds and whether it will continue to gain momentum in the years to come.

What is Ethereum?

The world’s largest altcoin and second largest cryptocurrency, Ethereum, has significance beyond just being a cryptographic token. It is widely recognized outside the crypto community for its advanced features and innovative blockchain solutions.

ETH works as an open source blockchain with smart contract functionality, mainly applied in the field of decentralized finance (DeFi). Ethereum functions more as a network that is continually updated and maintained by validators who receive ETH as compensation for their contributions and efforts.

Many experts envision that ETH will reach a valuation of $40,000 by 2030. While this may seem ambitious, it is not entirely implausible. Several compelling factors, such as its overall market strategy, unique model, scalability solutions, and leadership in various decentralized applications, have positioned ETH at the forefront of the cryptocurrency landscape.

Overview of Ethereum

Ethereum Key Use Cases

Ethereum has played a vital role in the expansion of blockchain technology, bringing blockchain projects, faster transactions, improved efficiency, and decentralized applications to industries around the world. Let’s take a look at the main use cases for ETH that are extensive and growing at a very rapid pace:

1. Decentralized Finance (De-Fi)
2. Decentralized Autonomous Organizations (DAO)
3. Smart contracts
4. Non-fungible tokens (NFTs)
5. Decentralized applications or Dapps.

In short, there are many sectors where Ethereum creates value and provides utility. Industries ranging from entertainment to real estate and even the healthcare sector are creating applications and tools based on the blockchain solutions provided by ETH.

To understand where Ethereum will go next and better understand its predictions, you must first understand its unique model, which is unlike any other. cryptocurrencies.

Understanding how Ethereum works

The network began its operation using a consensus mechanism which initially involved proof of work, but in 2022 it moved to proof of stake. The PoS consensus mechanism is considered very secure, tends to consume less energy and is much more efficient in implementing scaling solutions compared to the previous model.

Validators are allowed to invest capital in the form of Ethereum in the current model and join the network where this ETH stake acts as collateral. Once activated, validators receive new blocks from their peers on the ETH network, then they are responsible for sending them to other nodes on the network.

Additionally, validator nodes vote on the validity of a new block of transactions, thereby collectively guaranteeing that new blocks are authentic and in force before permanently adding them to the main blockchain. Then, among these nodes, one node is selected as the “block proposer” for the current time slot, which is highly responsible for constructing the new transaction block.

A PoS is much better than a PoW, because it does not use a lot of computing power to solve a puzzle. But, in the PoS system, the node itself validates new transactions and puts its value as collateral. These nodes then operate competently to avoid losing this guarantee.

With the “merge“Now complete after years of hard work, Ethereum’s transition to PoS is finally active. Now, with this crucial change, the Ethereum network, instead of using “miners”, has started using “validators » to approve, create and add blocks to the blockchain.

Where could Ethereum reach next?

Ethereum has a bright future as it is not just a transactional currency, but ultimately, it is poised to establish itself as a “store of value” for entities looking to maximize their wealth. ETH works great with DApps, NFTs, smart contracts and DeFi and the list keeps growing every year.

As long as the network continues to grow stronger and the ETH team continues to develop innovative features, its investors will likely continue to grow in the years to come. Let’s take a look at Ethereum’s long-term price predictions.

Ethereum prediction for 2024, 2025 and 2030

As of May 6, 2024, Ethereum was trading at $3,202, with a market capitalization of $384.09 billion. The currency showed significant growth after the Shappella upgrade in April 2023 and saw a substantial increase from $2,100 to $4,000. However, the Dencun upgrade did not have a significant impact on the value of the cryptocurrency. ETH is down 3.92% from last month.

Continued interest in Spot Bitcoin ETFs has sparked anticipation that Ethereum ETFs could also gain approval. Following the Dencun upgrade launched on March 13, 2024, total supply decreased and the upgrade did not support the increase expected by the market. ETH is up 0.80% over the past seven days and 1.78% over the past 24 hours.

Learn more about Dencun upgrade: Why is Ethereum rising today?

According to Cryptonewz, by the end of the current year 2024, ETH will reach $5,000. By 2025, Ethereum is expected to reach the maximum level of $6,500 with a low of $4,500 and an average of $5,500. And by 2030, it is expected to reach a maximum of $20,500.

The current year will see the Dencun upgrade, which is expected to positively increase the value of ETH. Furthermore, the Bitcoin halving may also contribute to the growth of the trading value of ETH. If ETH continues to grow, it has the potential to surpass its all-time high.

According to a blog from CoinDCX, a leading cryptocurrency exchange, it is predicted that 2024 can lay a solid foundation for ETH’s upward movement. The rise could intensify, potentially pushing prices to surpass the crucial $10,000 threshold and set a new all-time high. But bearish activity could intensify as these levels are breached, leading to a slight pullback. By the end of the year, the pullback will see a downward trend and the year will ultimately close around $5,000.

By early 2030, ETH price could regain its position of $10,000 and likely above the level, establishing a solid uptrend. ETH could even bypass this all-time high of around $12,000 and set a new record high. But once again, after reaching this peak, a crucial pullback could follow. The year for ETH will reflect the dynamic interplay of bullish surges, market forces, and bearish adjustments. By the end of the year, it could be between $9,000 and $9,500.

Will Ethereum ever surpass Bitcoin?

Given the very volatile nature of crypto market, various possibilities exist in the cryptocurrency space, including the possibility of Ethereum surpassing Bitcoin. As we have seen in 2021, ETH has outperformed BTC, gaining almost 400% compared to Bitcoin’s 66%.

Experts recognize that due to multiple use cases and its unique blockchain, Ethereum has a stable future and it is possible that it will perform exceptionally well compared to Bitcoin. However, it is considered very unlikely that Ethereum will surpass the price of Bitcoin. However, ETH has the potential to reach a market capitalization comparable to that of BTC, particularly due to its uncapped supply, unlike Bitcoin.

Featured Partners

Legacy

Over 1 Million Investors Trust Mudrex with Their Crypto Investments

Security

Mudrex is the Indian government. recognized platform with 100% insured deposits stored in crypto wallets

Costs

Benefit from zero crypto deposit fees and the best fee rates in the industry.

Multiple award-winning broker

Listed on Deloitte Fast 50 Index, Best Global Foreign Exchange Broker 2022 – ForexExpo Dubai October 2022 and more

Best investment offer

Trade over 26,000 assets with no minimum deposit

Customer service

Dedicated 24/7 support and easy sign-up

Please invest carefully, your capital is at risk

Conclusion

Several crypto experts have analyzed Ethereum’s performance since its inception and knowing its capabilities, they are confident that ETH is here to stay due to its strong fundamentals and potential.

Ethereum’s continued growth and constant upgrades have led many to predict that this year 2024 and the coming years will be great for the token, as the growing confidence in blockchain technology and solutions will surely allow ETH to grow. ‘go to the moon and to investors holding ETH for a long time. not be destroyed.

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