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What do experts think about Ethereum’s potential to reach $18,000 soon? Analyzing the latest predictions and market trends.
Ethereum Price Prediction
August 5 marked a significant day of market turmoil, often referred to as “crypto black Monday.” Ethereum (ETH) and other crypto assets experienced dramatic price drops. Amid a widespread sell-off in global financial markets, ETH’s price plunged to a low of $2,100, a steep 22% decline, representing its largest one-day drop since May 2021.
Additionally, ETH’s price declined further, dropping by 3% in the last 24 hours, bringing it to around $2,430 by August 8. Despite a modest recovery, ETH remains down about 24% over the last 7 days.
Market activity around Ethereum-related financial products showed mixed signals. On August 6, spot ETH ETFs saw their second-largest one-day inflow of over $98 million. In contrast, there was a net outflow of about $24 million on August 7.
What Do Experts Think?
Amid recent market turmoil, experts have weighed in with insights on Ethereum’s performance and future prospects.
On August 6, Michaël van de Poppe highlighted two key developments for Ethereum. Firstly, he noted that ETH became deflationary, with its supply decreasing at an annual rate of 0.812%. This deflationary trend means that more ETH is being burned than created, a positive sign for its value.
Two massive events took place yesterday. First, $ETH became deflationary, with the supply decreasing at a 0.812% yearly rate. Secondly, on-chain activity was strong, particularly with $AAVE generating substantial revenue through trading.
Van de Poppe also pointed out that while $160 million worth of ETH was created in 2024, the net inflow into ETH ETFs over the past two days was $150 million, suggesting that demand is rapidly catching up with, and potentially exceeding, the new supply.
The $ETH supply created in 2024 was $160 million. The net inflow in $ETH ETF in the past 2 days was $150 million. The demand is exceeding the supply.
He believes that if this inflow sustains, Ethereum could be highly undervalued and poised for a substantial price increase.
Another crucial aspect of Ethereum’s recent performance revolves around its technical upgrades, particularly Ethereum Improvement Proposal (EIP) 4844, implemented on March 13. This upgrade dramatically increased the scalability of layer 2 solutions while reducing fees for users by introducing a new way of handling data with “blobs,” effectively increasing block space on the network.
Ethereum fees were down $679 million in Q2 (57%), while the network turned inflationary. This was due to EIP 4844, which increased scalability and reduced fees.
The impact of EIP 4844 has been multifaceted. While fees have decreased, the increased block space has improved the user experience and scalability of the network, which is crucial for long-term growth.
Despite lower fees, the network’s usage metrics remain impressive. Transactions on L2 solutions increased by 63%, and active users on L2s grew by 81% in Q2, reflecting Ethereum’s growing network effects and demand for ETH.
As new use cases and demand emerge, driven by enhanced scalability, improved user experience, and reduced supply, Ethereum’s economic outlook could likely improve, potentially having a positive effect on Ethereum price predictions.
Ethereum Price Prediction
As we look ahead, many experts have shared their Ethereum predictions for the coming years. Let’s break it down year by year.
Ethereum Price Prediction 2024
For 2024, forecasts suggest that Ethereum’s price could range from a minimum of $2,184.14 to a maximum of $5,289.03, with an average price of $5,085.90. Another prediction estimates that by September 7, 2024, Ethereum’s price might rise by 7.03% to around $2,554.44. These predictions suggest some growth, but the market sentiment remains cautious.
Ethereum Price Prediction 2025
In 2025, expectations for ETH see further growth, with prices predicted between $5,231.85 and $6,303.69, and an average price of $6,194.84. Another estimate suggests ETH could fluctuate between $2,386.71 and $6,482.53. Despite the variation, both sources agree on an upward trend.
Ethereum Price Prediction 2030
Looking ahead to 2030, the predictions become even more optimistic. Forecasts suggest Ethereum could reach between $16,412.24 and $18,005.63, with an average price of $17,115.05. Another prediction, while more conservative, still estimates a substantial increase, with prices ranging from $5,488.20 to $11,821. These long-term forecasts reflect growing confidence in Ethereum’s future and its potential to achieve a large value.
When considering these ETH price predictions, it’s essential to remember that these forecasts can and often go wrong. The crypto market is highly volatile, and many factors can influence prices. Therefore, it’s crucial to do your own research and never invest more than you can afford to lose.
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Disclosure: This article does not represent investment advice. The content and materials featured on this page are for educational purposes only.
