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.
ETH has been showing growth recently, gaining 1.2% in the past 24 hours. According to data from CoinGecko, ETH is trading at $3,216 at the time of writing. ETH has risen 73% since the beginning of the year and recently regained the $3,000 level.
Also read: Cryptocurrency: Top 3 AI coins to buy for double profits
Ethereum price prediction at the end of April
As investors and traders closely monitor Ethereum price trends, Changelly's crypto experts have shared their predictions for the end of April. According to their analysis, ETH is expected to reach a minimum price of $3,049 and a maximum price of $3,151. The average price he is expected to be $3,100.
This prediction makes it clear that ETH is unlikely to reach the $4,000 level by the end of April. The recent spike in the price of Ethereum is mainly due to the surge after the Bitcoin halving. ETH renewed its gains as Bitcoin rose above $66,000 once again.
Also read: Shiba Inu April ending price prediction: Can SHIB remove the zero?
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.
