A panel of industry experts has ambitious price targets in mind for Ethereum (CRYPTO: ETH) over the next few years.
What Happened: According to a report from Finder, a panel of crypto experts polled in April forecasted ETH at $5,783 by the end of 2022.
The panel of 36 experts surveyed was largely bullish on the leading smart contract platform, particularly on the effects that would come as a result of The Merge or the network’s transition to Proof-of-Stake.
By 2025, the panel sees ETH reaching $11,764 and by 2030, the panel arrived at an average price prediction of $23,372.
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“The Merge, an upgrade to Ethereum, should happen this summer. This could have an explosive effect on the token. People have been waiting for this for years. It should be far more secure, 99% more energy-efficient, and deflationary,” said Joseph Raczynski, a technologist, and futurist at Thomson Reuters.
“If that isn't the trifecta of potential, as a leading blockchain, I don't know what would be.”
"Ethereum will undergo the equivalent of 3 Bitcoin halvings with its Merge update. Ether will become a deflationary asset yielding 5–10% APY," said Morpher CEO Martin Fröhler.
Over a third of respondents expect ETH’s deflationary mechanism to have the most impact on price. The lower energy consumption and environmental impact of a shift to Proof-of-Stake were also seen as a positive catalyst for price.
See Also: Mark Cuban Is 'Very Bullish' On Ethereum Merge For These Two Reasons
Price Action: According to data from Benzinga Pro, ETH was trading at $2,790, down 1.39% over 24 hours.
