ETH rate will rise to $4,000 by May 2024

The market researcher notes several factors driving Ethereum prices higher. Many coins are stuck in staking contracts, making them difficult to sell and creating buyer demand amid increasing interest.

The transition to a PoS mechanism, ETH deflation, the reduction of fees at level 2 and the upcoming DenCun update play a key role in the potential growth of the rate. Airdrops and the EIP 4844 update may also spark increased interest in Ethereum.

According to the latest data, as of the evening of February 2, the price of Ethereum was $2,315, and the market capitalization of the asset reached $278.27 billion. $ETH