Ethereum

On the release of US CPI figures, Ethereum price dropped dramatically to $1,157.97, but the losses were short-lived as bulls entered the market to capture an oversold coin. The current price of Ethereum is $1,292.95, with a 24-hour trading volume of $17,659,659,774.

In the last 24 hours, Ethereum has lost 0.31% and nearly 4.59% in the last seven days.

ETH

Ethereum Price & Tokenomics – Source: coinmarketcap

With a live market cap of $158,754,086,295, CoinMarketCap currently ranks second. It has a circulating supply of 122,784,437 ETH tokens and no maximum supply.

Unfortunately, there has been no notable uptick in crypto market sentiment during the past few months.

Sometimes it seemed like the worst was over, but the market would drop back into the “severe terror” zone. However, investors willing to buy at favorable prices may have a rare opportunity rather than the gloom and doom that typically follows such a market.

Why does Ethereum’s price has the potential to rise despite market undervaluation? Let’s find out!

Merge Sets up Ethereum for Super Cycle Rally

The significant Ethereum upgrade known as the merge finally took place on September 15, after years of development and delay. It has switched the digital machinery at the heart of the second-largest cryptocurrency by market value to a more energy-efficient system.

The excitement surrounding the merger has subsided. However, Ethereum’s long-term benefits have yet to be recognized. Currently, the network processes 20,000–100,000 transactions per second (TPS). Its previous rate was only 30 TPS.

The Ethereum network became up to 99.9% more energy-efficient after the merger. Despite these advancements, ETH’s price behavior has been surprisingly poor, shocking many. In the long run, however, merge positions Ethereum for a supercycle recovery.

Taps Into ESG Investing

According to a recent PwC study, investor interest in institutional asset classes that address environmental, social, and governance (ESG) concerns will skyrocket. By 2026, global ESG assets under management will have increased by 84%.

Furthermore, the improved environmental results will most likely encourage institutional investors interested in environmental, social, and governance (ESG) to include Ethereum in their portfolios. There is a need for long-term alternatives in the world of cryptocurrencies.

Ethereum is more appealing to those with ESG objectives. It’s because it recently transitioned to a more energy-efficient PoS method. Taking the most recent study into account, there is a strong possibility that ETH/USD will rise in the future.

Staking Converts ETH into an Interest-bearing Asset

Staking is now possible on Ethereum thanks to the proof-of-stake consensus technique. Staking on Ethereum entails holding and locking up a portion of the ETH tokens in order to support block validation and network security.

Holders will then receive additional ETH as staking rewards. Stakers are compensated with a portion of the network’s transaction fees in exchange for validating the status of the Ethereum network and ensuring the authenticity of transactions.

The process is analogous to depositing fiat money in a traditional bank’s yield-bearing interest account and gradually earning interest on it. These rewards are represented by the annual percentage yield (APY) on the monies staked.

Furthermore, Staking ETH provides token holders with 5% APY returns on their staked tokens, which may help increase the price of Ethereum.

Overestimation of Regulation Risk

In a recent report, the International Monetary Fund (IMF) suggested a regulatory framework that could help lessen risks linked to global digital assets while also pointing out some possible issues with a proof-of-stake (PoS) method in blockchain technology. The article states that regulators should adopt a technology-neutral stance when it comes to technology regulation.

They must, however, take into account the regulatory implications of various forms of technology because “certain types of consensus mechanisms that underpin blockchains may inherently generate frictions with broader policy objectives and mandates.”

Furthermore, Morgan Stanley (MS) stated in an October 10 research article that the decentralization of the crypto ecosystem is decreasing. According to the paper, while the underlying blockchains are decentralized, running a significant portion of the blockchain on a single or limited number of cloud providers may become risky as crypto regulation evolves.

Furthermore, the Ethereum community is working on potential solutions and is aware of the problem of centralization. Hence, Ethereum’s price could show signs of recovery in the longer run.

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