Is a $ 300 Ethereum price possible in the near future?

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Last Updated on 26 July 2022 by CryptoTips.eu

Jeroen Kok

Jeroen is one of the lead copywriters on Cryptotips.eu and discusses all recent events in the crypto market. This includes news updates, but also price analyzes and more. He developed his passion for cryptocurrency during the bull run in 2017. He has learned a lot since then. The combination of cryptocurrency and creative writing is perfect for Jeroen and an excellent way to share his knowledge with a wide audience. Find me on LinkedIn / jeroen@cryptotips.eu
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While altcoins are performing particularly well in the last few months and everyone was talking about the surge of Chainlink, Cardano and VeChain, Ethereum has also started a good climb, peaking to $ 271 in the last few days.

While Bitcoin seems to be really boring (since May the price has been trapped between $ 9,000 and $ 10,000), it seems that Ethereum, the currency of CEO Vitalik Buterin, has started a few good weeks.

Advertentie.

ETH 2.0 testnet

When you say Vitalik Buterin, you also think of Charles Hoskinson (with whom he used to work). The latter is now the CEO of Input Output Hong Kong and also the founder of his own currency Cardano. When Hoskinson presented his new Shelley upgrade a few weeks ago, Cardano’s price went up.

Many now hope that the second largest cryptocurrency will do the same, now that Ethereum 2.0 is being proposed as a testnet on August 4.

Investors have already welcomed the news and seem to be optimistic about the future of Ethereum.

$ 300 soon?

In fact, some analysts think Ethereum is on its way to the next price point of around $ 300.

The coin is climbing out of some sort of stagnation phase that it has been in for several months and we see many fundamental and also technical measures suggesting that Ethereum is ready to go further to $ 300 if demand continues to rise. This would decouple the correlation between Bitcoin and Ethereum.

Furthermore, the success of smart contracts and the growing demand for DeFi are also responsible for the sudden price increase of Ethereum.

As a reminder, when Ethereum took part in the well-known Bitcoin bull run in 2017, the price of Ethereum rose to just $ 1,430.