Ethereum Price Prediction: ETH will Rally to $3000 on Shanghai Upgrade

Ethereum has given a lukewarm performance this year, despite the market racing to reclaim its lost value. But it looks like ETH is back in the game, climbing 20% on the monthly chart. The coin broke past $1900 briefly on Wednesday and sits at $1,876.62 now.

The rally will gain momentum in the coming days, with the Shanghai upgrade around the corner. A steep ascent to $2250 can’t be ruled out, given the relevance of the milestone. And if the market continues in recovery mode and the network development goes as planned, ETH is on the path to $3000 by the third quarter of 2023.

Here is a closer Ethereum price prediction and how you can make the most of the upcoming ETH rally.

Ethereum Shanghai Upgrade is Scheduled for 12 April

Ethereum Shanghai Upgrade, or Shapella Upgrade to be more precise, will activate on the Ethereum network at epoch 194048, scheduled for 22:27:35 UTC on Apr. 12, 2023.

The milestone is much-awaited, as it marks the completion of Ethereum’s transition to a proof-of-stake (PoS) network. More importantly, it follows The Merge and enables validators to withdraw their stake from the Beacon Chain back to the execution layer. In addition, it will bring new functionality to both the execution and consensus layers.

Shapella Upgrade combines changes to the execution layer (Shanghai), consensus layer (Capella) and the Engine API. The smart contracts and protocol rules depend on Shanghai, whereas Capella ensures that all network validators follow these rules. Validators who have had to stake their ETH to add blocks to Ethereum for its transition to a PoS consensus mechanism can now unstake them. That essentially means that ETH which have long been locked up are entering the market again.

Ethereum three-month price history, 7 April 2023, source: CoinMarketCap

While increased supply should be a cause of concern usually, that is not the case here. The flexibility of deposits and withdrawals will instill more confidence in holders to stake. The Shapella Upgrade will urge more ETH holders to stake and participate in the consensus mechanism. It goes without saying that the development milestone reaffirms faith in the blockchain and its ecosystem, fuelling demand for the coin as an investment, as we have seen in the last few days.

While Ethereum has not caught up with Bitcoin in terms of price performance so far this year, that won’t be the case this quarter, with increased ETH liquidity.

Ethereum Price Prediction: Can ETH Touch $3000 this Quarter?

ETH’s quick jump from $1379 in March to $1900 in April reveals the market’s excitement about the upcoming milestone and what to expect. The altcoin is reversing the losses made in 2022, while reclaiming its status as the blue-chip crypto by driving solid demand and growth.

As the blockchain approaches the Shanghai Upgrade, it can climb to $2250, which is only ~$350 up from where it is now. The relevance of the milestone justifies the short and steep hike. But the real question is whether ETH can retain the value and continue the journey upward.

If the coin continues to strengthen the buying momentum, it has the potential to cross $3000 by the end of the quarter.  The fact that ETH accumulation by addresses with a 1,000-10,000 ETH balance has increased in recent weeks substantiates the price prediction. Their ETH holdings have increased by 0.5% in March alone.

ETH supply distribution among investors with 1,000 ETH or above, source: Santiment

When it comes to 1 million-10 million ETH (brown) and the 10 million – 100 million ETH balance groups, the numbers come to 0.4% and 0.5%. Here is another optimistic stat – the net Ether deposited at the official Ethereum 2.0 address has crossed 18M after soaring 3.5% in March.

Ethereum: ETH 2.0 Total Value Staked [ETH], source: Glassnode

That said, Ethereum can plunge to $1550 if there are glitches in the upgrade or the broader market lets down. A post-Shapella dip is well expected too, although it will be short-lived.

Ethereum Price Prediction 2023

Ethereum has a lot to look forward to in 2023 as it continues to improve the network speed, security, transaction costs, and user experience.

One of the key milestones includes Proto-danksharding, which will reduce transaction costs. Currently, Rollup data is stored on Ethereum permanently. It is expensive and accounts for more than 90% of the transaction cost users pay on rollups. The plan is to move the data into a new temporary ‘blob’ storage. They are cheaper as they can be deleted if no longer needed. Blob transactions will be added to Ethereum in an upgrade known as “Proto-Danksharding”, which will be shipped in late 2023, according to the project’s official roadmap.

That can kindle a strong Ethereum bull run. Even if the coin doesn’t ascent to its all-time high of $4,878.26, it can set a bottom at $4,000 for 2024.

Is Ethereum a good investment?

Ethereum is one of the best cryptocurrencies to buy now. It is an asset backed by an established project which continues to grow, expand, and improve. As the blockchain sector grows, so will Ethereum. If you’re looking for a blue-chip crypto with a low risk-reward ratio, Ethereum makes an excellent choice. As the world’s biggest altcoin, Ethereum has a massive market cap of $224B, despite the huge drop in value last year.

That leaves ETH with little room for growth. The highest it can climb this year is 2X. So, it is a good idea to diversify your portfolio with emerging assets that can go 5X to 10X. We have listed below three underrated cryptocurrencies, based on their utilities, market relevance, and credibility.

1. Love Hate Inu – Meme Coin Ready to Explode

Meme coins have a history of kindling some of the biggest crypto rallies. They can turn you into a millionaire or wipe out your wallet overnight. Their strength lies in the solidity of the community. But the lack of utility, common among meme coins, has proven to be detrimental to their sustainability.

So meme coins remain a risky investment.

Love Hate Inu aims to change the narrative. It is one of the most talked-about cryptocurrencies this year, and for the right reason. The vote-to-earn crypto, now in the presale phase, has managed to penetrate a broad market.

As the name gives it away, a vote-to-earn crypto lets you vote on a wide range of topics from politics to pop culture and sports and earn rewards in return. Rooted in the fast-growing online survey market,  Love Hate Inu introduces a transparent voting platform integrated with crypto incentivization.

Given that businesses are increasingly using surveys as a means to understand customer behavior, interests, and spending patterns, Love Hate Inu is stepping into a fertile market. Blockchain-powered smart contracts will mitigate the element of fraud and manipulation, which are common in traditional markets.

Love Hate Inu features a robust staking mechanism that makes the voting process both verifiable and anonymous. The authenticity of the poll, results, or reward distribution can be verified on the blockchain, which is out for anyone to see. While the team will create the polls in the initial phases, Love Hate Inu is building a community-first vote-to-earn ecosystem. So eventually, the community will create the polls.

It is also important to note that 90% of the LHINU supply will be sold in the ongoing public presale to ensure that the community holds the majority of the tokens. This decision will come to the advantage of the project in the coming months, as the future of a crypto meme coin largely lies in the hands of the community.

That said, Love Hate Inu is not a meme coin built solely on community power. It has an ambitious roadmap:

The Love Hate Inu (LHINU) presale has crossed the $3M milestone within days of going live. The meteoric progress of the presale strengthens the possibility of a meme coin rally upon its token launch. It’s not too late to buy LHINU.

You can still get it for presale discounts. The earlier you get in, the higher the discounts.

BUY LOVE HATE INU

2. DeeLance – The Best Utility Token of 2023

DeeLance is a Web 3.0 freelancing and recruitment platform. It brings transparency and decentralization to the freelancing market, which is riddled with scams and manipulation. DeeLance aims to radically innovate the industry by providing decentralized, secure tools and ownership rights to users in a digital economy.

You will need no browser plugins, third-party apps, credit card details, or wallets-linking to access the platform, which is designed to be fast, efficient, and easy. It taps into the true potential of blockchain technology, by knocking out predatory intermediaries from the equation.

Another key highlight of the platform is the control over data. It offers an excellent blockchain alternative to traditional freelancing platforms that sell user data to marketing and advertising companies. The automated dispute system of the platform stores all buyer and seller reputations on the public blockchain. Secure escrow accounts implement trustlessness into the ecosystem, ensuring that freelancers receive payment for the services they provide.

DeeLance allows you to convert the work submitted on the platform into NFTs. The feature ensures that the employer has full rights to the work they’re paying for, which in turn mitigates copyright violations. The platform also charges much lower fees when compared to legacy competitors, since it brings employers and freelancers under one umbrella.

The presale of DLANCE, the native cryptocurrency of the platform, is now live on the official website. You can purchase DLANCE using ETH, USDT, or a credit card. Get them early for the best discounts. The project will use the funds secured from the presale to build the DeeLance NFT marketplace and metaverse app and to establish its credibility through global networking.

BUY DEELANCE

3. Ecoterra – Green Crypto Backed by a Recycle-2-Earn App

We wrap up this list with Ecoterra, a first-of-its-kind Recycle2Earn application that reinvigorates the green market using Web 3.0. The ecosystem underpinned by a crypto reward system motivates individuals and institutions to join the fight against climate change. Let’s see how.

Recycle2Earn application

• Earn Ecoterra tokens for each item you recycle.
• Track your contributions to recycling
• Add them to your user profile
• Convert them into achievements and NFTs.

Carbon offset marketplace

• Allows individuals and organizations to offset their carbon footprint by supporting environmental or ecological projects from around the world
• Uses one of the most trusted standards for project verification.
• Each ton of carbon you offset is added to your impact profile as an achievement
• You can mint them as NFTs once a target is reached.

Recycled materials marketplace

• Bridges companies and recyclers.
• Companies can search for the recycled materials they need like plastic, aluminum, or glass on the platform.
• Then, they can connect with recyclers, place orders, and make payments.

Impact trackable profile

• Companies can publish their contributions to environmental initiatives, reach a large user base, and procure valuable data on user profiles and behavior.

Ecoterra aims to motivate individuals, small businesses, large corporations, industries, governments, and non-governmental organizations (NGOs) to join the fight against climate change by encouraging recycling. It is one of the best green crypto projects to enter the market in recent times, as it acknowledges the importance of rewards and recognition in climate action. The project has the potential to implement more transparency and efficiency in climate action.

The project can climb anywhere from 3X to 5X upon its launch, later this quarter. The best way into the project is the ongoing Ecoterra presale. Since the price of Ecoterra will increase as the presale moves to the next stages, get in early for high discounts.

BUY ECOTERRA