46% of nearly 55 fintech and cryptocurrency professionals believe Ethereum is undervalued after The Merge, according to a recent survey published by comparison website Finder.com. With less than three months remaining in 2022, Finder panel members expect Ethereum to drop to $963 per unit this year, and also expect the year to end at $1,377 per unit.
46% of Finder experts think Ethereum is undervalued, while 31% think the price is fair
On October 11, 2022, Finder.com, a web portal for product and price comparison, published a new forecasting survey discussing the second crypto asset, Ethereum (ETH). Bitcoin.com News reported on the latest ether prediction survey by Finder that said the value of ether could drop to $675 per coin by the end of the year. The latest ethereum Finder survey benefits 55 fintech and crypto experts who expect a different outcome regarding the future value of ether.
For example, 46% of respondents in the latest survey believe that ETH is undervalued but will drop to $963 per unit this year. The committee members also believe that after hitting the bottom of $963 Ether will end up in 2022 at $1,377 per unit. 31% of the experts surveyed believe that the current price of Ethereum is reasonable, and 23% of the Finder panel members think that ETH is overvalued. By 2025, committee members expect ETH to reach $5,154 per Ether and by 2030, experts believe ETH will benefit from $11,727 per unit.
Joseph Rachinsky, a technology expert and futurist at Thomson Reuters, expects ETH to reach $1,700 by the end of 2022.
“[Ethereum] Its value has plummeted, although one could argue that Ethereum is actually much more valuable and safe now. The combo is also much better in terms of environmental impact, reducing electricity consumption by over 99%,” Raczynski noted in Finder’s latest ether prediction study.
Yves Longchamp, head of research at SEBA, is one of the 31% of panelists who think the price of ether is reasonable at the moment. “The Ethereum ecosystem is undergoing a series of upgrades,” Longchamp wrote. “All of them aim to lead the Ethereum network to increase scalability, transaction speed and cost efficiency. Once completed, The Merge will prepare Ethereum as a global settlement layer, suitable for building robust decentralized applications.”
Committee members said that while Ethereum won points from bureaucrats and ecologists, the points were a trade-off for less decentralization.
Boston Trading CFO Jeremy Britton detailed during the survey that while Ethereum has won points with governments and environmentalists, the protocol “lacks the decentralization that crypto was intended to do.” Tommy Hunan, Head of Strategic Partnerships at Swyftx, has a similar view. The concentration of validators within the ETH network is worrying, Hunan says, and could give Bitcoin (BTC) an advantage.
“Early statistics on the concentration of validators in staking is very worrying, given that 5 or so in the United States represents about 64% of ETH pegged globally,” Hunan explained. “While I believe this will fade over time, this means that the consolidation event further contributes to the centralization of Ethereum, another card for Bitcoin fanatics to dominate their nearest competitor.”
However, 56% of Finder panel members do not believe that the blockchain will be monopolized by a single player, and 22% believe that a single player is likely to have a monopoly on the ETH network. 22% responded that they are “not sure” whether or not ETH will be governed by centralized entities in the future.
What do you think of Finder’s recent prediction study regarding the second leading crypto asset ethereum? Tell us what you think about it in the comments section below.
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Originally published at San Jose News Bulletin
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