Hello!
As of June 2024, Ethereum (ETH) is showing steady growth. The price of ETH is around $3,527, which is relatively high, but still 25% below the all-time high of $4,721. Over the past month, ETH has shown a 24% increase, which indicates positive dynamics in the cryptocurrency market.
Since Ethereum's merger with Beacon Chain, which switched the network from Proof-of-Work (PoW) to Proof-of-Stake (PoS), there has been a 90% decrease in the issuance of new ETH coins. This made Ethereum a potentially deflationary asset, particularly due to the 99.9% reduction in network power consumption, which helped attract institutional investors.
The preliminary forecast for the end of June 2024 suggests a price increase of 2.12% based on technical analysis and indicators such as Relative Strength Index (RSI) and Moving Average Convergence/Divergence (MACD). Investors and analysts are generally optimistic about the future of Ethereum, particularly thanks to news about ether ETFs and network scaling .
Thus, the current situation of Ethereum looks promising, with the trend of further growth and improvement of network functionality.
#Ethereum... #binance
