Nearly half of 55 fintech and crypto experts believe Ethereum has been underpriced since the network became a proof-of-stake blockchain through “The Merge” upgrade last month, according to a recent report from financial service firm Finder.
See related article: Why YOU should back Ethereum’s Fork
Fast facts
- While 46% of the surveyed panelists said Ether should be valued higher, 23% claimed the token was overpriced.
- The panelists said ETH is expected to drop to as low as US$963 before bouncing back to a high of US$1,722 this year, but may close 2022 at around US$1,377.
- “Allround market pessimism driven by Fed’s actions and still locked ETH staking are the key factors holding back the price,” Osom Finance Chief Executive Anton Altement said in the report. “Former should disappear by December, latter by next spring — those 2 events will unlock the next legs of the rally.”
- Ether was trading at US$1,213 at press time, according to data from CoinGecko, after shedding 6.3% of its value in the past day.
- Finder’s experts are optimistic that Ethereum’s price will reach US$5,154 by 2025 and US$11,727 by 2030.
- However, the panel’s prediction for Ether’s price by the end of the current decade is about 55% lower than their prediction in January.
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