Ethereum has not been able to give what was expected recently, but we can say that the predictions for the leading altcoin are positive. The CoinMarketCap community predicts that ETH will trade at $3,140 on June 30. Considering that ETH is currently at $ 1,758, this means a 78 percent increase. 15,362 people voted in the survey.
The community expects ETH to be traded at $2,982 on July 30. Interestingly, based on the performance of the previous six predictions, the crypto community has historically predicted the end-of-month price of Ethereum with 65% accuracy.
The anticipated “Merge” will increase interest in ETH. ETH 2.0 will be a process that will move the Ethereum network from a Proof of Work (PoW) mechanism to a Proof of Stake (PoS) mechanism. This process is said to increase the scalability of the network, in addition to its efficiency and speed.
The latest data from Glassnode shows that the ETH 2.0 deposit contract has reached 12,789,829 ETH, hitting an all-time high in terms of value. This represents more than 10.73% of the total amount currently in circulation. However, the same platform has revealed that Ethereum transactions have recently dropped to an 18-month low. The Ethereum network has seen extremely low fees. This is an important development because many critics of the ETH ecosystem cite high fees as the biggest obstacle. This criticism also came from the network's founder, Vitalik Buterin, who acknowledged that high fees are a barrier to the network's availability.
Speaking at the Shanghai Web 3.0 Developer Summit, Vitalik Buterin said that a postponement until September or October is possible if unexpected circumstances arise. During the virtual summit, Buterin shared important information on Ethereum protocol, ETH Consolidation, scaling and other updates. The executive also talked about the benefits of transitioning to proof-of-stake (PoS) and added:
"We've been working on proof of stake for about 7 years. But in the end, all this work will pay off. If all goes well, we hope the Merger will happen in the summer."