A valuation of the price of Ethereum made by the experts of Bloomberg noted that it is around $6,000.
Ethereum is the second biggest cryptocurrency in the world, which is enjoying a first-mover advantage in the category of Smart contract blockchain-based networks. Ethereum is not only a crypto asset but also responsible for the origin of many innovative crypto projects, which were initially entered into the crypto industry with the help of Ethereum based tokens.
According to report of MarketWatch, Bloomberg’s intelligence research on Ethereum found that the current value of the Ethereum coin should be around $6,128.
This valuation in the price of Ethereum is considered from different facts, associated with the same reason, which is the Ethereum merge upgrade that will take place in the summer of this year.
Reportedly intelligence noted that Ethereum’s upgrade to shift the network from traditional proof-of-work Consensus to Proof-of-stake Consensus will make Ethereum more attractive among institutional investors.
The report also noted that with the upgrade in the network, it will further gain prices because of the fewer numbers of new coins born. So on one side supply will get down and on another side, fund inflow will boost the price.
Ethereum TVL & high fees
At present, the total value of locked crypto assets in the Ethereum Ecosystem is standing at $123 billion worth, which is the highest in the whole crypto industry over any other project.
However, Ethereum will successfully shift its Blockchain network from Proof-of-work to Proof-of-stake Consensus this year but here we should not forget that the Ethereum network will take time to reduce the fees.
According to experts’ point of view, Ethereum will collect around $12 billion through transaction fees this year, which will be 30% higher than last year.
The Crypto industry will need to wait for more than 4-5 years to see the actual Ethereum blockchain network on Proof-of-stake Consensus, as per the past statement of Ethereum co-founder Vitalik Buterin.