The Ethereum network facilitates the development of decentralized applications (dApps) and smart contracts. Smart contracts are auto-executing agreements where the terms between parties are coded directly into the system. This innovative approach enhances security and efficiency in transactions on the blockchain.
On September 15, 2022, the Ethereum network made a significant shift from the proof-of-work to the proof-of-stake model. This transition resulted in a remarkable 99.95% reduction in energy consumption, marking a pivotal moment for sustainability and eco-friendliness in the blockchain industry.
Recently, the Ethereum (ETH) Coin has seen impressive growth in the market. As we found on CoinMarketCap, the Ethereum Coin is trading at $3,257.80, showing a 7.02% increase in value over the last 24 hours. The Ethereum Coin is up by 98.89% year to year. Let’s look at the March 2024 price forecast for Ethereum.
Also Read: Bitcoin Cash (BCH) Surges 15% as Massive Whale Transfers
Ethereum Price Forecast for March 2024
According to our expert’s technical analysis, the ETH Coin is anticipated to touch a maximum price level of $4,824 with an average price value of $3,521 by the end of March 2024. The minimum price value of the ETH Coin can drop to its minimum level of $3,289 if there is any major news surrounding the Ethereum ecosystem.
Moreover, with a major upgrade and the anticipation surrounding an ETH ETF, the value of the ETH Coin may surpass our price forecast. We believe that the Ethereum Coin is also eyeing further highs in the upcoming days as the Bitcoin Halving event is coming soon.
Also Read: MicroStrategy Bitcoin Investment Skyrockets to $4.65B in Unrealized Profit
Disclaimer
The information in this article should not be considered financial advice, and the OvenAdd platform is intended only to provide educational and general information. Please conduct your own research and consult a financial advisor before making any investment choices.
