Ethereum (ETH) is currently not progressing. For 2023, however, the smart contract platform might be one of the best coins. What are the advantages ?
Prediction: Will Ethereum explode in 2023?
Cryptocurrencies remain in dangerous territory after the FTX implosion. Many investors are waiting – this is reflected in coin prices. They stay where they are most of the time. Ethereum also fakes a bullish break from time to time, but then disappoints.
Over the past 24 hours, Ethereum has also underperformed, with the leading smart contract platform dropping from $1,272 to $1,224 – a new local low for ETH and daily losses of almost 4%.
Trading volume currently stands at $6.15 billion in the past 24 hours, far behind Bitcoin’s (BTC) $21.58 billion. Still, the volume is up around 14%, so there could be more moves up or down later in the day.
Many investors have become uncertain over the past few weeks, wondering: Is Ethereum still a good investment? Why didn’t the price explode after The Merge? How will the price move now?
Amidst this mood, Ethereum inventor Vitalik Buterin just spoke out – and revealed five bullish factors for Ethereum. It gives hope. Even though Ethereum is currently in trouble: could the digital asset be one of the best coins for 2023? What are the advantages and disadvantages?
Ethereum: Top Coin for 2023? analyst weighs
In fact, several factors point to a bullish 2023 for Ethereum. The pseudonymous top analyst Guy of “Coin Bureau”, for example, comments in a new analysis: The need for stablecoins could explode this winter – a circumstance from which Ethereum would directly benefit. Guy explains:
“When a country is struggling with energy problems, it has to print more of its currency to buy US dollars for the most expensive energy. As winter approaches, demand for dollars from these countries is expected to Continued Fed rate hikes will also increase the demand for USD, so citizens of foreign countries may start investing in stablecoins to maintain their purchasing power, which would benefit smart contract cryptocurrencies.
And Guy identified another “extremely bullish” driver for smart contract platforms like Ethereum: NFTs (non-fungible tokens) – specifically Meta’s (formerly Facebook) intention to allow users to buy NFTs directly on Instagram to sell them. This could skyrocket token adoption and take over the top platform – Ethereum.
However, there is not only light but also shadow regarding Ethereum’s predictions. Ethereum could also fall victim to upcoming regulations. Guy points out that regulation is a bullish factor as it allows institutions to invest in cryptocurrencies in a legally secure way for the first time.
At the same time, analysts fear that the upcoming crypto regulations in Europe and the aftermath of FTX’s collapse could have serious implications for digital assets like Ethereum. Here we have to wait and see.
You can read Guy’s full analysis here.
Last Chance: IMPT Token Presale Ends – Only 4 Days Left Until Exchange Listing
According to predictions, one of the best coins for 2023 could also be the new eco-friendly cryptocurrency IMPT token. It is currently in the final presale stage and will soon be listed on crypto exchanges.
Anyone interested in investing should therefore hurry to get the coin at the pre-sale price. It might be worth it: Crypto magazine “Bitcoinist” describes the IMPT token as “one of the most successful pre-sales of 2022” – the project was able to raise over $14.7 million from convinced investors!
Here for the IMPT presale