• Ethereum (ETH) is the native cryptocurrency of Ethereum, a blockchain platform that revolutionized the DeFi sector by introducing smart contracts.
• In Ethereum (ETH) price prediction 2023, we use statistics, price patterns, RSI, RVOL and other information about ETH to analyze the future movement of the cryptocurrency.
• The current market status for Ethereum (ETH) is $1,456.59 with 24-hour trading volume of $17,918,796,825 and 24-hour price change of 3.7% up.

What is Ethereum (ETH)?

Ethereum (ETH), known as Ether, is the native cryptocurrency of Ethereum. Ethereum is an open-source blockchain platform that revolutionized the blockchain and DeFi sector by introducing smart contracts. This second-generation blockchain was launched in 2015 with its native crypto coin ether (ETH). The entire Ethereum network is fueled by Ether (ETH). It’s blueprint was first released in its whitepaper in 2013 by co-founder Vitalik Buterin and it functions as a launchpad for several other crypto tokens and decentralized applications (dApps). Smart contracts are coded programs that execute autonomously with pre-defined conditions on Ethereum deployed through an EVM or ‘Ethereum vending machine’.

Ethereum Transitioning to Proof-of-Stake(PoS)

The developers of Ethereum began preparing for a transition from proof-of-work(PoW) consensus to proof-of stake(PoS), which will be executed through ‘The Merge’ upgrade set for September 15th 2020. After this transition from PoW to PoS consensus; Ether (ETH) will convert into a deflationary token rather than an inflationary one.

Current Market Status Of ETH

The current market status for etheruem according to CoinGecko shows a price at $1,456.59 with 24 hour trading volume at $17,918,796,825 and 24 hour price change at 3.7% up – circulating supply levels stand at 120,467 336 units and all time high hit was recorded on November 10 2021 at 4 878 26 USDT .

Ethereum Price Prediction 2023

In our analysis of ETH price prediction 2023 we will use statistics ,price patterns ,RSI ,RVOL and other information related to ETH to analyse future movement of this cryptocurrency . Bullish eth price prediction 2023 stands between 1483 23 – 1805 26 USDT while bearish prediction stands at 1078 60 USDT . We also believe that eth could reach 2000 USDT soon but further research needs to be carried out before coming to any conclusion .

Conclusion

In conclusion we can say that ethereum has established itself as one of the most important crypto projects out there due to its wide range of features like smart contract capability so it’s quite possible that if all goes according to plan then eth could definitely hit 2000 usdt mark in near future .