Ethereum (CCC:ETH-USD) is leading a pack of cryptocurrencies to new all-time highs simply one day ahead of a set up advancement update for the ether network. Dogecoin (CCC:DOGE-USD) and Bitcoin (CCC:BTC-USD) likewise rallied to new all-time highs today as cryptocurrencies rise ahead of Wednesday’s Coinbase (NASDAQ:COIN) IPO (initial public offering).

Source: Shutterstock Wednesday’s Berlin hard fork is an upgrade to the Ethereum network that will decrease fees for different deals. High GAS charges have actually been a big sticking point for the ethereum blockchain, especially as the buzz around non-fungible tokens swelled in the very first quarter of this year. Those deal fees have been an advantage for numerous rivals, but have recently declined as traders shift to a different type of bot for closing deals.

Nevertheless, the impending update isn’t the only great news for ether bulls. On Monday, Nvidia (NASDAQ:NVDA) tripled its expected 2022 Q1 revenue from sales of a cryptocurrency mining processor (CMP) developed for industrial ethereum mining. Then on Tuesday, Ethereum software application designer Consensys just raised $65 million in funding from a number of monetary players, including JP Morgan (NYSE:JPM) and MasterCard (NYSE:MA).

Speaking of financing, payment processor Visa (NYSE:V) just managed its first bitcoin payment a couple weeks ago. All of that comes against a wider background of increased investment in ether, with record trading volumes in ethereum futures last week.

Wednesday’s Berlin hard fork will be followed by a May 1 hard fork to introduce the EtherLite chain. By switching to a pure proof-of-stake agreement, transactions will be much quicker and more scalable. Transferring to proof-of-stake has actually been on the Ethereum roadmap for years, but might be fast-tracked for as soon as this year, though this would slash benefits for ether miners.

Ethereum (ETH) Price Forecasts

With Ethereum presently trading simply under $2,300, what will ether do next? Here are some Ethereum (ETH) cost forecasts:

  • The other day, FXStreet stated a breakout above $2,200 would help press Ethereum to $2,400. Two days ago, the website said Ethereum could climb above $3,200 with adequate bullish buying.
  • Benzinga states $2,700 will be the next major resistance level for Ethereum, based on historical data.
  • Coinpedia has an extremely optimistic Ethereum (ETH) rate prediction, saying the token might see remarkable growth in costs to reach $10,000 prior to completion of 2021. They go on to state Ethereum might reach $25,000 by the end of 2022 and $50,000 by the end of 2025.
  • Wallet Financier has an one-year forecast of $3,144 and a five-year forecast of $7,168 for Ethereum.
  • Trading Beasts predicts Ethereum will end the year just under $2,000.
  • Digital Coin Price has an Ethereum (ETH) price prediction of $3,224 by the end of 2021 and $6,969 by the end of 2025.

On the date of publication, Vivian Medithi did not have (either straight or indirectly) any positions in the securities discussed in this short article.

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