In recent months, Ethereum (ETH) and the broader cryptocurrency market have functioned in an environment marked by significant inflation, with the Federal Reserve taking efforts to impose high-interest rates.
In June, the second-largest cryptocurrency by market capitalization temporarily fell below the $1,000 support zone as fears about an economic downturn intensified.
Despite Ethereum’s significant price fall since the beginning of the year, the CoinMarketCap community forecasts that the decentralised currency will trade at an average price of $2,529 on July 31, 2022.
This prediction has earned 11,529 votes and is $1,479, which is 140 percent greater than the current price of ETH.
At the time of publishing, Ethereum is trading at $1,052, an increase of 1.69 percent over the previous twenty-four hours and a decline of 13.25 percent over the previous week. 127 billion dollars is the total market value of the DeFi asset, according to CoinMarketCap statistics.
Ethereum price forecast. CoinMarketCap.com is the originating website
The decentralised asset is not completely doomed, as it remains above the critical $1,000 support level. Indeed, June statistics revealed that Ethereum has continued to create hundreds of thousands of new addresses; precisely, the network has been generating around 500,000 new addresses each week, topping 200 million total addresses as of June 8.
While Facebook has just begun testing Ethereum and Polygon NFTs with select authors in the United States, Circle’s Euro Coin is currently accessible on Ethereum and will be supported by prominent crypto exchanges and DeFi protocols.
The information on this website should not be construed as financial advice. Investing involves risk. When you invest, your money is subject to risk.
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