Will Ethereum (ETH) Reach $50,000? Price Prediction
✍️ 20 October, 2022 - 12:32 👤 Editor: Jakub Motyka
- The native token to the second largest blockchain, Ethereum (ETH), could rise as high as $50k according to this price prediction.
- Part of the sentiment supporting the prediction is the PoS merge and the whale activities. Let's take a look at this price prediction of $50k for Ethereum.
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The latest price prediction shows that Ethereum (ETH) could trade as high as $50,000. Both the fundamental and technical aspects of the new proof of stake network support the outlook. The second largest token currently commands a market capitalization of $158 billion, almost half that of bitcoin.
In September, the Ethereum blockchain underwent a significant fork. The update made the network to be a proof-of-stake consensus. PoS is an algorithm that requires nodes to stake tokens in order to validate transactions.
Despite the craze around the merge, it is yet to have a significant impact on the price of ether. The token continues to trade largely in the red.
Ethereum Prediction $50,000: ETH Price Remains Bearish In The Recent Past
At the time of writing, ether was trading at $1,293 amid a prolonged crypto bear market. The price represents a paltry 0.4% increase in the past day and a 1.24% gain in the past week. On a broader outlook, Ethereum has shed 4.85% in the last month.
Similarly, the price in the prior quarter is not looking positive either - it is down 19.73%. The loss is even more severe year-to-date. The layer-one-based token has plunged 64% since trading at $3,683. Particularly ether peaked at $4,810 in November 2021. Besides the losses, big investors think otherwise.
Ethereum’s Whale Activity On The Rise: ETH Price Prediction For $50,000
Data from Santiment shows that whale investors on Ethereum are on the rise. The rich traders have amassed upwards of 3.5 million ether tokens since September 11. The rise represents a 14% increase in whales’ acquisition since the PoS merge.
Nonetheless, it is not an all-smooth ride for the Ethereum blockchain. The smart contracts platform was recently compromised. The exploit, which involved a foul play in gas fees, reported a loss of $158,000. Although details remain unclear, security firm PerkShield has confirmed the incident.
Perkshield said an Ethereum user was duped into paying a hefty amount as transaction processing fees. But generally, Ethereum remains a strong blockchain that could surge as high as $50,000. The network is one of the pioneer blockchains whose fundamentals and technical outlook remain strong.
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- ethereum-eth-price-prediction-50-000-usd: Unsplash