At the time of writing, Ethereum is trading at around $3,328, a strong comeback from the previous volatility in the market. The number of daily transactions has also been increasing and now stands at more than 1.4 million indicating its usage in DeFi, NFTs ,and gaming.
The institutional investment into Ethereum has risen dramatically in the past three months, with more than $1 billion allocated to ETH-based products. This increase has been attributed to the upcoming Ethereum upgrade called Danksharding, which plans to increase the network’s throughput by decreasing the cost per transaction. Some people think this will bring in more developers and users to the platform.
Analysts are focusing on the $3,500 barrier on Ethereum as a breach could open the path to higher prices. According to some estimates, Ethereum might cross the $10,000 threshold by mid-2025 due to market fundamentals and increasing demand if things remain the same.