Stocks

Ethereum (ETH) Price Predictions: Where Does ETH Go After New Record High?

InvestorPlace - Stock Market News, Stock Advice & Trading Tips

Ethereum (CCC:ETH-USD) is once again notching new records after an extended period of bearishness in cryptocurrencies that saw both ETH-USD and other peers fall back from early April highs. Ethereum is currently trading around $2,650.

A stack of ether or ethereum coins on a gold background.

Source: Shutterstock

The biggest support for ether right now comes from significantly lower GAS fees, which have dropped to a three-month low. That reduction in fees appears tied to a shift in the bots traders use to close transactions, and is not directly attributable to the GAS fee changes associated with the Berlin hard fork network update.

Eagle-eyed readers might note that two weeks ago, InvestorPlace reported on a similar decline in GAS fees likewise spurred by changes to the bots used for closing transactions prior to the Berlin hard fork two weeks ago.

More broadly, institutions and individuals alike are expressing their support for the cryptocurrency, whether it’s whales buying ETH-USD on the dip or the listing of Ethereum ETFs on Canadian exchanges.

Additionally, the European Investment Bank plans to sell 100 million euro in bonds on the Ethereum blockchain.

Ethereum (ETH) Price Predictions

With Ethereum presently trading just over $2,600, what will ether do next? Here are some Ethereum (ETH) price predictions:

On the date of publication, Vivian Medithi did not have (either directly or indirectly) any positions in the securities mentioned in this article.

The post Ethereum (ETH) Price Predictions: Where Does ETH Go After New Record High? appeared first on InvestorPlace.

The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.

Latest Stocks Videos

    InvestorPlace

    InvestorPlace is one of America’s largest, longest-standing independent financial research firms. Started over 40 years ago by a business visionary named Tom Phillips, we publish detailed research and recommendations for self-directed investors, financial advisors and money managers.

    Learn More