Ethereum [ETH]The largest altcoin, ETH, continues to show vital signs of life. ETH has surpassed the $1.5k threshold with a 1.51% increase in the past day. It has experienced a 44.35% growth in the last seven days.
Nevertheless, despite the recurrent green candles, the industry experts’ sentiment concerning the altcoin remains mixed with bullish and bearish cues.
The basics of how to get started
The loss of billions from its market capitalization in 2022 was a significant blow to the flagship network. Despite macro headwinds, ETH fundamentals managed to maintain a solid front.
Firstly, it should be noted that ETH’s development activity remains strong despite volatility.
Source: Santiment
The respective daily active addresses are also available. remained robust Despite the many corrections made over the last few months.
Source:Santiment
These indicators, taken together, show that supply and demand are going hand in hand.
$ETH Fundamentals still appear quite strong despite macro headwinds
Chart 1: Development activity remains strong despite volatility
Chart 2: Daily active addresses remain strong
Supply side 🤝Demand side
Data by @santimentfeed #ETH #Crypto pic.twitter.com/vJxLSo4LlB
— PhinTechFocus | web3analysis.eth (@PhinTechFocus) July 19, 2022
What’s the experts’ take
A quarterly survey A panel of 53 industry professionals was surveyed by Finder (a comparison site) in July. The results were somewhat mediocre.
These experts are industry leaders predicted The bottom of Ethereum would be $675 by the year’s end. They have “considerably lowered” their Ether predictions since the start of 2022.
The consensus was that ETH would trade at $1711 before 2022. It will then rise to $5739 by 2025 and $144,412 by 2030. Here’s a graph that sums up the stated prediction.
Source: Finder
The panel however expects that the price of ether will first drop to around $600. Finder’s analysis noted,
“While holding ETH until 2030 may prove fruitful, our panel thinks there are lean times ahead in the short term, expecting ETH to bottom out at $675 before the year is out.”
According to Ben Ritchie (Managing Director of Digital Capital Management), the Merge could be a significant change in this trajectory.
“Since Ethereum’s correlation to Bitcoin is still high, we can speculate that if Merge happens before the year-end, its price may decouple. However, the outside economic factor is vital, bringing hurdles to the short-term price action.”
Ethereum’s price could reach as high as $15,000 in 2030 due to the upcoming upgrades to the ETH’s tokenomics, such as deflationary emissions and scalability.
All eyes now await the eagerly awaited Merge. ETH 2.0 Deposit contract continues to show impressive all-time highs.
In addition to this, ETH’s correlation to BTC could help the network uplift investors’ moods.
BTC traders made a change in recent months and could be seeking a long-term break. The price of Bitcoin rose above $23.6k.