The Ethereum network has undergone notable changes recently. On September 15, 2022, the network transitioned from a proof-of-work mining model to a proof-of-stake model. This transition significantly reduced energy consumption, with a reported 99.95% reduction.
A few days ago, the network implemented a Dencun upgrade designed to improve functionality and performance. However, after this upgrade, the price of Ethereum (ETH) declined and fell below $4,000.
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ETH has been showing growth recently, rising 6% in the past 24 hours. According to data from CoinGecko, ETH is trading at $3,653 at the time of writing. ETH is up 107% year-to-date and remains the second-largest cryptocurrency by market capitalization.
Ethereum price prediction for April
As investors and traders closely monitor Ethereum price trends, Changelly's crypto experts have shared their predictions for April. According to their analysis, ETH is expected to reach a minimum price of $3,412 and a maximum price of $3,518. The average price he is expected to be $3,465.
The recent surge in Ethereum prices is largely due to rising expectations for the approval of the ETH Exchange Traded Fund (ETF). ETH renewed its gains as Bitcoin once again exceeded $70,000.
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Despite the recent price drop after the Dencun upgrade, Ethereum remains one of the most promising and influential blockchain projects in the cryptocurrency space. Its robust ecosystem, which hosts a wide range 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 has led to the rise of competing blockchain networks.
