Ethereum is predicted to grow to $ 27,000

The main altcoin shows more pronounced growth dynamics compared to bitcoin. Against this backdrop, many industry experts share their forecasts for further dynamics ETH $2,984.56 Ethereum -5.07% Market capitalization $358.73 billion VOL. 24 hours $2.66 billion . Popular crypto investor Ryan Berkmans suggested that Ethereum could reach $ 27,000 within the next 18−30 months.

According to him, such a dynamic has the right to life, as ETH is no longer under pressure from miners. This is due to the fact that in September 2022, the main altcoin switched to the consensus Proof-of-Stake algorithm. Also this year, a global update of the ethereum ecosystem is due to take place. It is expected that after its successful implementation, Ethereum’s throughput will increase to 100,000 transactions per second. Naturally, this may attract special attention from large investors.

At the time of writing, ETH is trading at $ 2424, having gained about 2.7% over the past day. The network’s developers have implemented the Dencun update on the Helosky testnet, but this did not provoke a strong market reaction.

The full update, according to the developers, is scheduled for March this year. However, this will happen only if Holesky operates in the normal mode. Interestingly, Dencun will be a merger of Cancun and Deneb. The first update is aimed at improving the network’s efficiency, while the second is aimed at modernizing the consensus algorithm.

The last major update to the Ethereum network was Shapella. This update allowed users and validators to withdraw their digital assets from staking. Currently, the market capitalization of ETH is estimated at $ 291.3 billion.

Recently, a well-known crypto analyst DeFi Dad emphasized that the popularity of ETH will be one of the many reasons why he is bullish in his price forecast for the upcoming cycle. «One of the many reasons why I see ETH rising to $ 20,000 to $ 25,000 this cycle.»