• Ethereum (ETH) is the native cryptocurrency of Ethereum, a revolutionary open-source blockchain platform.
• In Ethereum (ETH) price prediction 2023, we use statistics, price patterns, RSI, RVOL and other information to analyze its future movement.
• The bullish ETH price prediction for 2023 is between $1805.26 and $2109.79 while the bearish ETH price prediction for 2023 is $1291.26.
What is Ethereum (ETH)?
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. It was launched in 2015; its native crypto coin ether (ETH) was released through an initial coin offering(ICO) in August 2014. The entire Ethereum network runs on Ether (ETH). Its blueprint was first released in 2013 by Ethereum Co-founder Vitalik Buterin in its whitepaper. Since its launch, it has become a launchpad for several other crypto tokens, DeFi protocols and numerous decentralized applications(dApps). It also utilizes smart contracts which are coded programs pre-defined with conditions that execute autonomously on Ethereum’s Vending Machine(EVM). Currently it uses proof-of-work consensus but will transition to proof-of-stake consensus through The Merge upgrade set for September 15th 2020 where Ether will convert from an inflationary token to a deflationary token.
Current Status Of Ethereum
Currently, Ethereum holds the 2nd position on CoinGecko with a 24 hour trading volume of $14,926,336,369 and 24 hour price change of 6% up with circulating supply of 120,453,969. Its all time high was on November 10th 2021 at $4,878.26 . Its current market value stands at $1 817 54 .
Price Prediction For 2023
The bullish ETH price prediction for 2023 lies between $1805.26 and $2109.79 while the bearish ETH price prediction for 2023 is at$1291 26 . This prediction takes into account various factors such as statistics ,price patterns ,RSI , RVOL etc .
Conclusion
In conclusion ,Ethereum has seen huge success since its launch in 2015 due to its versatile features such as smart contracts and dapps .It currently holds the second spot based on market capitalization and looks promising in terms of prices predictions with potentials reaching upto 2500$. Though there are still some hurdles like scalability issues yet if work continues then it can reach greater heights in near future .