Mon. Feb 26th, 2024

Ethereum (ETH): Price Prediction For 2023

Crypto Writer Jared By Jared Kirui Oct 28, 2022 #Ethereum (ETH)
Ethereum ETH Price Prediction 2023

✍️ 28 October, 2022 – 5:06 👤 Editor: Jakub Motyka

  • How much will Ethereum (ETH) be worth in 2023? Check out the latest prediction below.
  • Whale activity and the PoS Merge are some of the considerations. Here we analyze the Ethereum price prediction for 2023 from the experts.
  • The latest news about cryptos, in our Telegram channel.

Ethereum (ETH) entered the market with a price of less than $1 in 2015. It has since skyrocketed to trade at $1,559 seven years later, and an all-time high of $4,600. So, what does the future hold for the second-largest cryptocurrency, and how much will Ethereum be worth in 2023?

Based on the technical aspect and the developments in Ethereum, ETH will start 2023 at around $2,000. Further, in mid-2023, the price will trade around $4,000, according to the experts, and probably close the year at more than $5,000. Although no one can perfectly predict the future, historical data can be used to formulate a possible trend, as seen below.

ETH Is Up 20% In The Last Week: Can The 2023 Ethereum Price Prediction Hold?

For instance, in the past day, the newly upgraded proof of stake crypto is up 3% at $1,555 and a 20% in the past week. The positive sentiment came after the Canadian central bank raised its borrowing rates less aggressively than expected, sending a signal that other jurisdictions may follow suit.

Ethereum-Merge-NFT
The future of the price of Ethereum is based on some technical factors that will determine what will happen in 2023.

ETH has equally climbed 10% in the past month, although down 9% in the last quarter. Despite the price year-to-date having plunged 57%, Ethereum could erase the losses and push towards the $2,000 mark by the start of 2023 if it sustains the momentum.

In addition, notable on the blockchain is the interest among the big investors.

Whale Activity Also Informs Ethereum (ETH) Price Prediction For 2023

Also supporting the prediction – an increase in the Ethereum’s whale activity. A whale address (a term referring to large investors with sizeable crypto holdings) that had been dormant for 6 years, moved $22.2 million in ETH on October 25, as per Santiment.

Historically, such actions are known to pump the price of ETH and could do so if they increase.

Ethereum ETH Graph Price Last 6 Months Until Today, October 28, 2022
Graph with the price of Ethereum (ETH) during the last 6 months until today, October 28, 2022.

The last aspect of the prediction is the expected rise in the total value locked in Ethereum. Data from the TVL aggregator, DefiLlama, shows that the value locked in Ethereum is up 3% in the past day at $32 billion. That could soon change once the benefits of the Merge are priced in, and the prediction of $5,000 by 2023 could then hold.

More Ethereum price predictions:

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports.

ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.
Jared Kirui
Latest posts by Jared Kirui (see all)
Crypto Writer Jared

By Jared Kirui

EN: Jared Kirui is an experienced financial writer with a passion for all things blockchain technology. Previously, he was into stock markets and forex, providing asset managers with top-notch content. With a flair for producing high-quality articles, he started covering crypto news in 2021. He is open-minded, trades for fun, and enjoys sports. ES: Jared Kirui es un escritor financiero experimentado apasionado por todo lo relacionado con la tecnología blockchain. Anteriormente, estuvo en los mercados bursátiles y forex, brindando a los administradores de activos contenido de primer nivel. Con un don para producir artículos de alta calidad, comenzó a cubrir noticias crypto en 2021. Tiene una mente abierta, comercia por diversión y disfruta de los deportes.

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *