Ethereum (ETH) is a highly sought-after crypto that has gained immense popularity due to its status as a feature-rich and actively evolving blockchain project. But what is the Ethereum price in the next decade? As crypto investors, you may be interested in Ethereum price predictions to make informed investment decisions. This article delves into the historical trajectory of its price and gives Ethereum price predictions for 2023-2030.
What is Ethereum?
Ethereum is a decentralised network that deploys blockchain technology to run applications and process transactions. Its native cryptocurrency is Ether (ETH), which is responsible for functioning the network and purchasing network fees. Ethereum’s value derives from its utilities provided by the fact that anyone may tap into the ecosystem and build or create decentralised applications (Dapps) without being controlled by a centralised authority.
In essence, think of a giant 1-million-piece puzzle that a kid may take forever to complete. That completed jigsaw is the entire Ethereum network, with each piece representing one node (a minicomputer in the supercomputer Ethereum), operated by a user known as a miner or validator. However, each node is a completed entity (an entire picture, not a piece of a big picture as in the jigsaw). The node can process exchange of data, called transactions, and adds the data to the Ethereum network. The underlying glue that connects all nodes together is blockchain technology.
The uniqueness of the Ethereum network is that there is no need for a central authority telling all nodes what to do. They function autonomously according to rules already programmed into the network.
Most Significant Updates
Price rose and then fell due to regulatory worries and pause in Dapps
Despite regulatory action against Binance, a surge in Ethereum network activity and the expectation of a spot ETF approval fueled a price move above $2,000. Particularly, Ether’s price was trading slightly higher on November 23, maintaining support above the $2,000 level after briefly retesting $1,930 on November 21.
However, about one week later, Ether was struggling to maintain the $2,000 support as of Nov. 27, following its third unsuccessful attempt in 15 days to surpass the $2,100 mark. This downturn in Ether’s performance comes as the broader cryptocurrency market sentiment deteriorates.
It’s possible that recent developments, such as the United States Department of Justice (DOJ) signalling potential severe repercussions for Binance founder Changpeng “CZ” Zhao, have contributed to the negative outlook. Moreover, the recent $46 million KyberSwap exploit on Nov. 23 has further dampened demand for decentralised finance (DeFi) applications on Ethereum.
Additionally, Ether exchange-traded products (ETPs) saw only $34 million of inflows in the last week, just about 10% of the inflow seen by equivalent Bitcoin crypto funds during the same period.
Persistently high transaction fees remain a hurdle, with the seven-day average transaction fee standing at $7.40. This cost has negatively impacted the demand for decentralised applications (DApps), resulting in a 21.8% decrease in the volume of DApps on the network in the past week, according to DappRadar. As a result, the protocol fees on the Ethereum network have declined for four consecutive days, reaching $5.4 million on November 26. This marks a decrease from the daily average of $10 million observed between November 20 and November 23, as stated by DefiLlama. This pattern has the potential to initiate a downward trend, prompting users to explore alternative chains in pursuit of more favourable yields.
Ethereum network witnesses an exodus as validators exit
Since the beginning of October, there has been a notable change in Ethereum’s staking pool dynamics, as more validators are choosing to withdraw their staked ETH, as revealed in a recent report by Glassnode. The on-chain data provider notes that, on average, 1018 validators have been leaving the proof-of-stake (PoS) network daily since October. This trend aligns with the recent surge in the altcoin’s price over the past month, indicating that validators are seizing the chance to gain profits from their previously staked ETH.
Additionally, due to a rise in the daily number of exiting validators on the network, there has been a corresponding fall in ETH issuance. This refers to the total amount of new ETH coins added to its current supply.
“As the growth rate of validators slows and declines, the daily ETH issuance has experienced a corresponding slowdown. Over the last 7 days, the growth rate of ETH issuance has slowed by up to 0.5% per day. Notably, the rate of issuance has decreased for the first time in recent days,” noted Glassnode.
Ethereum Price History Analysis
The last quarter of 2022 proved bearish for ETH, attempting a rally to $1682.49 but facing failure. This led to a significant decline, hitting a yearly low at $1143.72. The coin’s dynamics shifted, with the previous support turning into resistance by year-end.
In 2023, market sentiment changed, and bulls took control, sparking a rally that turned the previous resistance of $1682.49 into strong support by April. A new resistance formed at $1977.36, setting the expected price range. From mid-March to mid-August 2023, ETH consolidated between $1770 and $1950, signalling market indecision.
Post-mid-August, ETH broke out of consolidation but in a downward movement. Despite a small upward movement by the period’s end, trading volume showed periods of reduced activity, indicating market uncertainty. Bollinger Bands stayed contracted, reflecting low volatility, with a notable bullish crossover above the 20-week MA until July.
The RSI displayed bullish dominance from January to April 2023, reaching 67.65. However, it descended below 50 in subsequent months, hitting 40.00 by mid-September and standing at 49.51 in early October, suggesting bearish undertones.
ETH Price Predictions: Experts’ Opinions
As the crypto winter begins to thaw, experts have shared their ETH price predictions.
DigitalCoinPrice, a crypto aggregator, holds a bullish stance on Ethereum, with a minimum ETH price prediction of $2,612.70 in March 2023. They anticipate an average price of $2,878.65 for the year and predict ETH to reach $4,134.16 in 2024. Drawing on historical data, DigitalCoinPrice envisions ETH reaching around $5,495.53 in 2025 and $17,220.33 by 2030.
Another leading public finance firm, Gov Capital, forecasts ETH price to reach $3,587.64 by the year’s end. Their long-term Ethereum price prediction by the end of 2024 is even more optimistic, placing the price at $6,560.37 and projecting it to rise as high as $9,547.64 by the end of 2025.
PricePrediction offers a less bullish Ethereum prediction in the short term than DigitalCoinPrice, estimating that ETH could be valued at around $1,808.71 in 2023. However, their AI-assisted technical analysis suggests an increase to $2,705.67 in 2024 and $4,086.73 by 2025. Their most optimistic long-term ETH prediction places ETH at $28,039.38 by 2030.
In addition, Former Goldman Sachs fund manager Raoul Pal believes ETH will outperform Bitcoin (you can read our BTC price prediction for further details) and predicts it could reach 300-400% of its current value in 2023, based on Metcalfe’s Law. Pal foresees ETH price peaking above $20,000 in the next few years.
Bloomberg analyst Mike McGlone also sees ETH outperforming BTC in the next major bull cycle. Highlighting Ethereum’s impact on finance, McGlone made an ETH price prediction of up to $2,500 in 2023 and climb to $6,000 by 2025.
These Ethereum price predictions reflect a range of perspectives on Ethereum’s potential performance in 2023 and beyond, considering historical data, technical analysis, and market trends.
*Note that price forecasts are often subject to inaccuracy, given their potential volatility. Besides, many long-term predictions rely on algorithms that can change over time.
Ethereum Price Prediction 2023
As of the latest observation, Ethereum is valued at $2037.55, with a market capitalization of $244,853,418,096 and trading volumes of $11,674,190,570. Predicting ETH’s price involves analysing historical price trends, current advancements, and social sentiment within the community. Here is CoinCulture’s price prediction for Ethereum tokens.
Years | Avg Price | Lowest Price | Highest Price |
---|---|---|---|
2024 | $2057.79 | $1646.23 | $2469.35 |
2025 | $2695.71 | $2156.57 | $3234.85 |
2026 | $3531.38 | $2825.10 | $4237.66 |
2027 | $4626.11 | $3700.89 | $5551.33 |
2028 | $6060.20 | $4848.16 | $7272.24 |
2029 | $7938.86 | $6351.09 | $9526.63 |
2030 | $10399.91 | $8319.93 | $12479.89 |
2024 Ethereum Price Prediction: Our analysis suggests that Ethereum’s price in 2024 is expected to fluctuate between $1646.23 and $2469.35, with an average ETH price around $2057.79.
2025 Ethereum Price Prediction: Looking ahead to 2025, our analysis indicates a price range for Ethereum between $2156.57 and $3234.85, with an average ETH price of approximately $2695.71.
2026 Ethereum Price Prediction: In 2026, Ethereum’s price is projected to vary between $2825.10 and $4237.66, with an average ETH price around $3531.38.
2027 Ethereum Price Prediction: The anticipated price range for Ethereum in 2027 is between $3700.89 and $5551.33, and the average ETH price is estimated to be around $4626.11.
2028 Ethereum Price Prediction: Moving to 2028, our analysis predicts Ethereum’s price to fluctuate between $4848.16 and $7272.24, with an average ETH price of approximately $6060.20.
2029 Ethereum Price Prediction: Looking further into 2029, Ethereum’s price is expected to range from $6351.09 to $9526.63, with an average ETH price of around $7938.86.
2030 Ethereum Price Prediction: In 2030, Ethereum’s price is forecasted to vary between $8319.93 and $12479.89, and the average ETH price is projected to be around $10399.91.
ETH Price FAQs
Is Investing in Ethereum Profitable?
Investing in Ethereum has proven to be highly profitable, with Ether experiencing a significant increase in value since its launch. Starting at $0.311, it has surged to as high as $4,890, making it a top-performing investment. The coin is currently priced at $1,200 and given our Ethereum price prediction in the next decade, ETH holds promising profitability potential due to ongoing platform developments and the prospective adoption and utilisation of the Ethereum blockchain.
What is the ETH Growth Potential in 2023?
Given the crypto market’s volatility and macroeconomic conditions’ influence, it’s not easy to make a precise Ethereum price prediction. However, there is a general belief that Ethereum and the broader crypto market will break free from the bearish trend in 2023. With favourable global macroeconomic conditions and regulatory frameworks, Ethereum is expected to surpass the $2,300 mark and reach as high as $5,000 by the end of the year.
Who Holds the Most Ethereum (ETH)?
Contrary to popular belief, Vitalik Buterin, the co-founder of Ethereum, does not hold the most ETH. The most prominent ETH-holding address belongs to the ETH2 deposit smart contract, which possesses over 15.7 million ETH, representing about 13% of the total ETH in circulation. The second-largest ETH holder is the wallet address for wrapped Ethereum, owning over 3.7 million ETH. Among the top 10 ETH-holding addresses are exchange platforms, including Binance, Kraken, Jump Trading, Arbitrum, Gemini, and Bitfinex.
What Will the Value of ETH Be in 20 Years?
It is impossible to predict the exact value of ETH in 20 years accurately. However, considering its rapid expansion since its inception, Ethereum price AUD prediction is that the coin will continue to rise in the next two decades. Looking at trends from recent years, ETH has the potential to become a precious asset shortly. By 2040, the average Ethereum (ETH) price could range between $23,000 and $25,000, with more optimistic forecasts projecting ETH to reach around $40,000.
What to Do When the ETH Price Drops?
The recent volatility in ETH price, along with other cryptocurrencies like Bitcoin, Cardano, XRP, and Dogecoin, reflects the current state of the crypto market. Stock markets have also experienced significant losses, such as Nasdaq (-4%), S&P 500 (-3%), and Dow Jones Industrial Average (-2.5%). In such uncertain market conditions, investors often panic selling to minimise losses. However, this sentiment can harm investment portfolios. It’s better to maintain long-term and diversified investments, remain objective, and conduct thorough research before making investment decisions in this unpredictable market.
Final Thought
Ethereum is poised for a substantial rally in 2023 and beyond, provided it remains unaffected by macroeconomic influences. Although technical data support analysts’ Ethereum price predictions, it’s nearly impossible to forecast its precise trading price accurately. Therefore, we strongly advise conducting thorough research and comprehending the inherent risks associated with Ethereum before making any investment decisions.