Among the cryptocurrencies getting the most attention right now is Ethereum (ETH-USD). Today, Ethereum has surged 5% higher to more than $3,113 per coin as bullish momentum continues. Accordingly, interest in Ethereum price predictions has once again begun to surge.
Much of this interest relates to Ethereum’s upcoming Merge upgrade. This massive network overhaul will usher in a new era of Ethereum.
Specifically, this upgrade will move Ethereum to a fully proof-of-stake protocol. Right now, Ethereum is still using a proof-of-work validation mechanism, which requires complex mathematical problems to be solved in order to secure and validate blocks. This is the energy-intensive crypto mining that many investors want to avoid for environmental reasons.
On the other hand, proof-of-stake is much easier on the environment. An upgraded Ethereum would likely need just 1% of its current consumption.
In order for this mechanism to work, ETH holders stake their coins on the network. It’s expected that Ethereum will offer staking rewards in the 7%-12% range. Accordingly, many have high expectations for where demand could be for this coin moving forward.
With the potential for high demand in the near future, here’s where the experts think Ethereum is headed.
Ethereum Price Predictions
For context, ETH currently trades at $3,110 per coin.
- WalletInvestor provides a 1-year and 5-year price forecast of $5,205 and $14,463, respectively, for ETH-USD.
- Similarly, Gov Capital forecasts ETH could be worth $4,940 in one year and $18,091 in five years.
- Finally, DigitalCoinPrice suggests ETH could be worth $4,474 in one year, and $7,278 in five years’ time.
On the date of publication, Chris MacDonald did not have (either directly or indirectly) any positions in the securities mentioned in this article. The opinions expressed in this article are those of the writer, subject to the InvestorPlace.com Publishing Guidelines.
