Ethereum is a cryptocurrency network and a crypto asset (ETH). It is ranked second in all crypto ratings on the Internet. Decentralized technology developers use the Ethereum blockchain to build and deploy their applications. Ethereum enables smart contract execution, which is the core of all decentralized products.
The current rate of Ethereum in dollars can be found in the ETH USDT pair. USDT is a stablecoin pegged by the US dollar and equal to $1. As of September 2022, this pair is traded at $1,456.57.
Transition to POS
The Ethereum blockchain is used to run on the Proof-of-Work consensus protocol. It means every coin was mined (similar to Bitcoin). Just a few days ago, in mid-September, the network switched to the Proof-of-Stake consensus mechanism, which means, from now on, ETH coins are received through staking, not mining.
The advantages of Ethereum staking:
- Staking is available to everyone – it does not imply expensive equipment and enormous electricity costs inherent to mining technology. You just need to find a reliable platform that allows staking.
- In fact, staking is a passive income option – you lock your coins for a while and receive rewards for it (interest).
- Inflation rate of the ETH coin will significantly reduce.
- The network will offer much lower fees.
- Compared to mining, staking is much more environmentally friendly.
Ethereum Price Prediction 2030
To make a correct forecast of the Ethereum coin, experts analyze the Ethereum price history, investigate crypto charts, find patterns, etc. Amid the recent Ethereum transition to the PoS protocol, the prospects of this coin are optimistic. Respectable company DigitalCoinPrice forecast that the ETH rate will rise to $20,476.81 in 2030. The CoinPriceForecast service proposed a somewhat restrained prediction – they state the rate will grow up to $5,183.
Regardless of optimistic forecasts for the Ethereum network, you should conduct your own analysis and decide on buying this asset. No doubts that ETH is a promising asset and it is a good investment option.