A crypto staking crackdown is underway today. Accordingly, investors in Ethereum (ETH-USD) and other high-profile cryptos are scrambling to see what the ultimate impact of this crackdown will be on valuations. As a result, today is seeing a surge in interest around Ethereum price predictions.
The U.S. Securities and Exchange Commission (SEC) and prominent crypto exchange Kraken announced a $30 million settlement this week. As a result of the settlement, Kraken will be closing down its U.S. staking services. For Ethereum — a blockchain network which just shifted to proof-of-stake via its high-profile “Merge” last year — this is big news. So, it’s unsurprising to see some rather bearish price predictions brewing from experts today, many of whom think at least 20% downside could be likely following this news.
Other prominent figures are even less bullish. Recent commentary from Federal Reserve Governor Christopher Waller paints a rather bleak picture of this sector. Waller has reiterated his view that these assets are highly speculative and that most could eventually go to $0. Thus, it’s unclear whether there’s a broad-based government initiative to ban crypto in an under-the-radar fashion currently, especially if a central bank digital currency (CBDC) is under development.
With that said, let’s dive into some expert price predictions for Ethereum right now.
Ethereum Price Predictions
For context, the ETH crypto currently trades at $1,529 per coin at the time of this writing.
- WalletInvestor projects that ETH could be worth as little as $476.16 in one year.
- On the other hand, Gov.Capital has one-year and five-year price forecasts of $3,975 and $16,906, respectively, for Ethereum.
- Finally, DigitalCoinPrice projects that ETH could average at $3,708 per coin in 2024 and $7,959 in 2028.
On the date of publication, Chris MacDonald did not hold (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.
