Ethereum: How High Can ETH Surge In December 2024?

The Ethereum (ETH) network has been trying to reach $4,000 for a while now. The largest altcoin has been moving slowly towards this coveted mark. About three years ago, the asset hit an all-time high of $4,891. Following this, the community believed that ETH could rise to a high of $5,000. But the asset is currently 27% below this peak. Can Ethereum reach $4,000 before the end of the year?

Also Read: Dogecoin: How High Will DOGE Go If Bitcoin Hits $150,000?

Ethereum Holders Enjoy Profits

At press time, the second-largest cryptocurrency was trading at $3,566.07 following a 1% drop over the past 24 hours. Ethereum’s current price drop comes after a nearly 6% spike throughout the week.

Source

Over the last 30 days, ETH has surged more than 33%. This has put a majority of Ethereum holders at a profit. Data from IntoTheBlock revealed that 90.8% of $ETH investors are profitable, which is the highest level since June. In addition, about 2.8% of the entire supply is held by the 9.2% of investors who are still losing. Accordingly, possible sell pressure from this group could not have much of an effect as long as ETH keeps rising.

Source

If Ethereum continues to rise in the coming days or months, it could witness a major spike in profits.

Also Read: Amazon: Can AMZN be the 4th Company to Hit $3T Market Cap?

December Prediction

According to CoinCodex, the altcoin could witness a prominent uptick in December. Ethereum is expected to trade in a range between $3,738.00 and $3,751.48 during the month. This is much higher than the asset’s price in November. This would mean that assuming the average price of $3,743.68, the price of ETH could be 5.32% compared to today’s pricing.

Source

In addition, Ethereum’s investors could rake in a profit of 5.54% through the altcoin in the coming month. It looks like December will be a bullish month for the Ethereum market.

Also Read: De-Dollarization: Countries That Are Cutting Ties With the US Dollar

  • cryptocurrency
  • ETH
  • ethereum

Comments

Post a Comment

Popular posts from this blog

Ripple XRP Price Prediction: New Year 2024

Image
Ripple ’s XRP token has seen a significant rise in its price this year. Since January 2023, the asset has surged by over 80%. However, the popular cryptocurrency remains overshadowed by others, such as Solana (SOL), which grew by over 1000%, and Bitcoin (BTC), which rallied by nearly 160% in the same time frame. Also Read: Ripple XRP Forecasted To Surpass its ATH of $3.40, Here is When XRP saw a massive spike in its price, reaching $0.82 after a US district court ruled that Ripple selling the token to retail clients did not breach securities law. However, the US SEC (Securities and Exchange Commission) has taken the lawsuit to the high court. There is a possibility that the high court will rule similarly to the district court. However, XRP’s price has stagnated over its legal unclarity. The asset has yet to reclaim its July 2023 levels and is since down almost 24%. Ripple XRP price prediction for New Year 2024 Source – The Coin Republic According to Chang...
Read more

Ethereum Foundation swaps Ether worth $2.7 Million, ETH dips

The swap was done on Uniswap. Ethereum (ETH) had dropped 1.64% at the time of writing to trade at $1,593.66. Ethereum Foundation’s significant holdings of Ether influence market dynamics despite its decentralized nature. The Ethereum Foundation, a key player in the development and ecosystem of the Ethereum network, sold a portion of its allocated Ether ( ETH ) tokens. A wallet identified as “0x9eE457023bB3De16D51A003a247BaEaD7fce313D,” labelled as a “Grant Provider” on blockchain tracker Etherscan, executed a swap of over 1,700 ETH for $2.7 million in USDC on the Uniswap decentralized exchange. Market reaction and impact The sale of ETH tokens by the Ethereum Foundation triggered a reaction in the cryptocurrency market. Ether’s price dipped by approximately 1.5% within a few hours, and over the subsequent 24-hour period, the drop extended to 1.8%. This event led to a temporary slump in the value of Ether and affected ot...
Read more

EV Charging Payments App on Blockchain Raises $310k in Presale – Invest Early in Future-Proof Project

Image
C+Charge is an upcoming EV charging payment app that aims to streamline the charging process and provide rewards to users. The app will connect EV owners with charging networks, allowing for easy payment transactions and earning carbon credits and sustainable cryptocurrency rewards in the process.  Utilizing decentralized blockchain technology, C+Charge's P2P payment system is making EV charging more efficient, cost-effective, and transparent. The platform's rewards system is one of its defining Features . By using C+Charge's utility token, CCHG, to pay for charges, EV drivers can earn carbon credits that can be used for a variety of purposes such as offsetting carbon footprint or even offsetting travel.  Additionally, C+Charge's partnership with Flowcarbon allows for tokenized carbon credits through Flowcarbon's Goodness Nature Token ($GNT) to be earned as well. C+Charge's goal is not just about earning rewards, but also bringing standardiza...
Read more