The Ethereum network has been undergoing some notable changes lately. On September 15, 2022, the network transitioned from a proof-of-work mining model to a proof-of-stake model. This shift has led to a significant reduction in energy consumption, with reports suggesting a 99.95% decrease.
Just days ago, the network implemented the Dencun upgrade, which was designed to improve its functionality and performance. However, in the wake of this upgrade, the price of Ethereum dipped below the $4,000 mark.
ETH has shown some signs of recovery recently, gaining 1.2% over the past 24 hours. At the time of writing, ETH is trading at $3,216, according to data from CoinGecko. ETH is up 73% year-to-date and has recently reclaimed the $3,000 level.
Ethereum Price Prediction for the End of April
As investors and traders keep a close eye on Ethereum’s price action, crypto experts at Changelly have shared their predictions for the end of April. According to their analysis, ETH is forecasted to reach a minimum price of $3,049 and a maximum price of $3,151. The average price is expected to be around $3,100.
The predictions suggest that it is unlikely for ETH to reach the $4,000 mark by the end of April. Ethereum’s recent rally was largely driven by a post-Bitcoin halving surge. With Bitcoin now back above $66,000, ETH has continued to ride its coattails.
Despite the recent price dip following the Dencun upgrade, Ethereum remains one of the most promising and influential blockchain projects in the crypto space. Its robust ecosystem, which hosts a vast number of decentralized applications (dApps), decentralized finance (DeFi) protocols, and non-fungible tokens (NFTs), continues to drive innovation and adoption.
However, Ethereum also faces challenges, such as high gas fees and scalability issues, which have led to the rise of competing blockchain networks.
