What Is Ethereum (ETH)?
Ethereum is a decentralized open-source blockchain system that features its own cryptocurrency, Ether. ETH works as a platform for numerous other cryptocurrencies, as well as for the execution of decentralized smart contracts.
Ethereum was first described in a 2013 whitepaper by Vitalik Buterin. Buterin, along with other co-founders, secured funding for the project in an online public crowd sale in the summer of 2014. The project team managed to raise $18.3 million in Bitcoin, and Ethereum’s price in the Initial Coin Offering (ICO) was $0.311, with over 60 million Ether sold. Taking Ethereum’s price now, this puts the return on investment (ROI) at an annualized rate of over 270%, essentially almost quadrupling your investment every year since the summer of 2014.
The Ethereum Foundation officially launched the blockchain on July 30, 2015, under the prototype codenamed “Frontier.” Since then, there has been several network updates — “Constantinople” on Feb. 28, 2019, “Istanbul” on Dec. 8, 2019, “Muir Glacier” on Jan. 2, 2020, “Berlin” on April 14, 2021, and most recently on Aug. 5, 2021, the “London” hard fork.
Ethereum’s own purported goal is to become a global platform for decentralized applications, allowing users from all over the world to write and run software that is resistant to censorship, downtime and fraud.
If you’re looking for Ethereum price predictions/forecast for 2021, 2022, 2023, 2024, 2025, 2030 and want to know where the prices of Ethereum (ETH) will go in the future? We will analyze the past prices of Ethereum (ETH) and will found out what experts are saying about its future price actions.
Please keep that in mind you need to take this prediction and every other prediction with the intention that this is only the suggestion of some market expert/analysts.
Not to mention predicting something so perfect is completely impossible. But we will try our best. Let’s start.
Ethereum Past Price Analysis
According to the latest data gathered, the current price of Ethereum is $4,621.96 and ETH is currently ranked # in the entire crypto ecosystem. The circulation supply of Ethereum is 118,576,989 with a marketcap of $548,057,650,574.
In the past 24 hours, the crypto has been decreased by -2.74% in its current value. If we compare the current market cap of the ETH with yesterday’s, you can see that the market cap is also down.
From last 7 days the ETH was in good upward trend and increased by 3%. Ethereum has shown very strong potential lately and this could a be good opportunity to dig right in and invest.
However, after the comparing the current price with past 30 days price history, it is observed that Ethereum has increased 14.143% in its value. The average minimum price for the month is $3,804.18 while maximum average price was $3,968.29. this implies that this coin is a suitable asset and a new addition to your portfolio of coins for long term.
The 90 days price change is around 34.83% and the price circulated from a minimum average price of $2,994.41 to maximum average price of $3,292.09 in the past 90 days.
In Last 4 months Ethereum has shown a growing trend. Thus, we think that similar parts of the market were quite popular at that period. According to the latest data collected, the trading volume of Ethereum is increased from 4 months. The trading volume constitutes a vital role in its price.
The coin is up by 50.19% with the maximum average price of the coin was around $1,993.26 and the minimum average price of was around $1,881.84 in past 4 months.
Ethereum (ETH) Price Prediction/Forecast
At PricePrediction.Net we predict future Ethereum price predictions/ETH forecast by applying deep artificial intelligence-assisted technical Analysis on the past price data of Ethereum. We do our best to collect maximum historical data for the ETH coin which include multiple parameters like past price, Ethereum marketcap, Ethereum volume and few more. If you are looking to invest in digital cryptocurrencies and want good return on your investments, make sure to read our predictions.
Ethereum Price Prediction 2021
According to our deep technical analysis on past price data of ETH, In 2021 the price of Ethereum is predicted to reach at a minimum level of $4,437.08. The ETH price can reach a maximum level of $4,991.71 with the average trading price of $4,853.05.
Ethereum Price Prediction 2022
The price of Ethereum is predicted to reach at a minimum level of $6,808.34 in 2022. The Ethereum price can reach a maximum level of $8,260.99 with the average price of $7,050.99 throughout 2022.
ETH Price Forecast for 2023-2024
As per the forecast price and technical analysis, In 2023 the price of Ethereum is predicted to reach at a minimum level of $9,793.31. The ETH price can reach a maximum level of $11,861.45 with the average trading price of $10,145.86.
The price of 1 Ethereum is expected to reach at a minimum level of $13,948.77 in 2024. The ETH price can reach a maximum level of $17,107.50 with the average price of $14,456.06 throughout 2024.
Ethereum Price Prediction 2025
Ethereum price is forecast to reach a lowest possible level of $20,628.85 in 2025. As per our findings, the ETH price could reach a maximum possible level of $24,402.21 with the average forecast price of $21,207.09.
Ethereum Price Prediction 2026
According to our deep technical analysis on past price data of ETH, In 2026 the price of Ethereum is forecasted to be at around a minimum value of $29,376.61. The Ethereum price value can reach a maximum of $35,750.69 with the average trading value of $30,224.90 in USD.
Ethereum (ETH) Price Prediction 2027
The price of Ethereum is predicted to reach at a minimum value of $41,562.00 in 2027. The Ethereum price could reach a maximum value of $49,991.01 with the average trading price of $43,073.25 throughout 2027.
Ethereum Price Prediction/Forecast 2028
As per the forecast and technical analysis, In 2028 the price of Ethereum is expected to reach at a minimum price value of $61,040.89. The ETH price can reach a maximum price value of $72,007.78 with the average value of $63,194.56.
Ethereum (ETH) Price Prediction 2029
The price of Ethereum is predicted to reach at a minimum value of $90,455.79 in 2029. The Ethereum price could reach a maximum value of $106,072.47 with the average trading price of $93,615.52 throughout 2029.
Ethereum Price Prediction 2030
Ethereum price is forecast to reach a lowest possible level of $134,013.00 in 2030. As per our findings, the ETH price could reach a maximum possible level of $161,084.36 with the average forecast price of $138,693.78.
Who Are the Founders of Ethereum?
Ethereum has a total of eight co-founders – an unusually large number for a crypto project. They first met on June 7, 2014, in Zug, Switzerland.
- Russian-Canadian Vitalik Buterin is perhaps the best known of the bunch. He authored the original white paper that first described Ethereum in 2013 and still works on improving the platform to this day. Prior to ETH, Buterin co-founded and wrote for the Bitcoin Magazine news website.
- British programmer Gavin Wood is arguably the second most important co-founder of ETH, as he coded the first technical implementation of Ethereum in the C++ programming language, proposed Ethereum’s native programming language Solidity and was the first chief technology officer of the Ethereum Foundation. Before Ethereum, Wood was a research scientist at Microsoft. Afterward, he moved on to establish the Web3 Foundation.
Among the other co-founders of Ethereum are: – Anthony Di Iorio, who underwrote the project during its early stage of development. – Charles Hoskinson, who played the principal role in establishing the Swiss-based Ethereum Foundation and its legal framework. – Mihai Alisie, who provided assistance in establishing the Ethereum Foundation. – Joseph Lubin, a Canadian entrepreneur, who, like Di Iorio, has helped fund Ethereum during its early days, and later founded an incubator for startups based on ETH called ConsenSys. – Amir Chetrit, who helped co-found Ethereum but stepped away from it early into the development.
What Makes Ethereum Unique?
Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfill an agreement between several parties on the internet. They were designed to reduce the need for trusted intermediates between contractors, thus reducing transaction costs while also increasing transaction reliability.
Ethereum’s principal innovation was designing a platform that allowed it to execute smart contracts using the blockchain, which further reinforces the already existing benefits of smart contract technology. Ethereum’s blockchain was designed, according to co-founder Gavin Wood, as a sort of “one computer for the entire planet,” theoretically able to make any program more robust, censorship-resistant and less prone to fraud by running it on a globally distributed network of public nodes.
In addition to smart contracts, Ethereum’s blockchain is able to host other cryptocurrencies, called “tokens,” through the use of its ERC-20 compatibility standard. In fact, this has been the most common use for the ETH platform so far: to date, more than 280,000 ERC-20-compliant tokens have been launched. Over 40 of these make the top-100 cryptocurrencies by market capitalization, for example, USDT, LINK and BNB. Since the emergence of Play2Earn games, there has been a substantial increase in interest in the ETH to PHP price.
Ethereum London Hard Fork
The Ethereum network has been plagued with high transaction fees, often buckling at seasons of high demand. In May 2021, the average transaction fee of the network peaked at $71.72.
In addition to the high cost of transactions, the leading altcoin also suffers from scalability issues.
As already mentioned, there are plans to transition to a proof-of-stake algorithm in order to boost the platform’s scalability and add a number of new features. The development team has already begun the transition process to ETH 2.0, implementing some upgrades along the way, including the London hard fork.
The London upgrade went live in August 2021. It included five Ethereum Improvement Proposals (EIPs), namely EIP-3529, EIP-3198, EIP-3541, and most notably EIP-1559 and EIP-3554.
EIP-1559 is arguably the most popular upgrade out of all the EIPs.
What Is EIP-1559?
The EIP-1559 upgrade introduces a mechanism that changes the way gas fees are estimated on the Ethereum blockchain. Before the upgrade, users had to participate in an open auction for their transactions to be picked up by a miner. This process is known as a “first-price auction,” and as expected, the highest bidder wins.
With EIP-1559, this process is handled by an automated bidding system, and there is a set “base fee” for transactions to be included in the next block. This fee varies based on how congested the network is. Furthermore, users who wish to speed up their transactions can pay a “priority fee” to a miner for faster inclusion.
EIP-1559 also introduces a fee-burning mechanism. A part of every transaction fee (the base fee) is burned and removed out of circulation. This is intended to lower the circulating supply of Ether and potentially increase the value of the token over time.
Interestingly, less than two months after the London upgrade was implemented, the network had burned over $1 billion worth of Ether.