Ethereum (ETH) is on track to surpass $6,800 and record a new all-time high this year, despite the DeFi asset trading at almost three times less than its value as things stand.
Indeed, cryptocurrency experts have examined Ethereum ahead of its upcoming Merge, analyzing its price potential, and the future of the digital asset looks to be bright, as per a survey of 36 fintech experts published on May 4 conducted by Finder.
The consensus of Finder’s panel of fintech and cryptocurrency specialists predicts that Ethereum will reach a top of $6,872 on average in 2022, approximately $2,000 more than its previous all-time high of $4,900 before falling to $5,783 by the end of the year.
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The Merge to influence Ethereum price
Joseph Raczynski, a technologist, and futurist at Thomson Reuters, had one of the more positive predictions for Ethereum’s end-of-year value, predicting that it will reach $8,000 by the end of the year, with “the Merge” having a significant part in the increase.
“The Merge, an upgrade to Ethereum, should happen this summer. This could have an explosive effect on the token. People have been waiting for this for years. It should be far more secure, 99% more energy-efficient, and deflationary. If that isn’t the trifecta of potential, as a leading blockchain, I don’t know what would be.”
The futurist is not alone in his assessment, with 35% of respondents stating that ETH’s deflationary mechanism will have the most beneficial influence on the market after the Merge.
Conversely, 29% believe that ETH’s low energy usage will have the most influence on pricing, while 16% believe that ETH’s greater transactions per second will have the biggest effect.
Asher Tan, the CEO of CoinJar, is likewise confident on the future of ETH, predicting that the token would reach a high of $8,500 this year before exploding to $35,000 by 2030.
The panelists agree that if no fresh newly created Ether enters the market between the Merge and the Shanghai Upgrade, ETH will face a supply shock, with 31% believing this to be the case.
“The Merge is one of the biggest and most important events in crypto’s history – and one with the capacity to deliver an almighty supply shock to the system,” Tan said.
In the previous 24 hours, Ethereum has lost 8.08 % and 5.77 % of its value in the last week trading at $2,690, yet the CoinmMarketCap crypto community with 80% historical accuracy predicted that ETH price will be significantly higher by May 31, 2022.
Disclaimer: The content on this site should not be considered investment advice. Investing is speculative. When investing, your capital is at risk.
