Ethereum cryptocurrency may double in value next year

The cryptocurrency market and the industry as a whole are starting to show growth — yesterday the global capitalization of all digital assets exceeded $ 1 trillion. The growth also affected Ethereum (ETH), whose price rose above $ 1,500 for the first time in the last week.

Given the historical price dynamics of the leading altcoin, the Ethereum rate may exceed $ 3,000 as early as 2023, according to a crypto trader under the pseudonym LedgArt Kaleo, who published a chart of the second largest cryptocurrency on October 27. «It is realistic that ETH will exceed $ 3,000 again in early 2023,» he said on Twitter.

eTH breaking above $ 3K again in early 2023 makes sense pic.twitter.com/BZVUXccWIG

— K A L E O (@CryptoKaleo) October 27, 2022

Taking into account the published chart, ETH shows an upward trend line, which indicates a positive trend. It is indeed present — in the last day alone, $ 20 billion has been added to the market capitalization of the ethereum, and its price has exceeded $ 1,500 for the first time since September 15, when it suffered a blow after switching to Proof-of-Stake.

At the time of writing, ETH is trading at $ 1,568, with a market capitalization of $ 189.03 billion.