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Latest ETH Price Prediction Shows Altcoin Outperforming BTC

05/23/2020
Latest ETH price prediction, ethereum

The latest ETH price prediction shows a possibility that the second-biggest altcoin could outperform Bitcoin, as we are reading further in the ETH price news.

The native crypto of the Ethereum network (Ether ETH) has become a favorite among the crypto users over the years. It even became the second-most popular digital currency after Bitcoin and boasts a huge fan base by also gaining interest from investors. However, 2019 was a rather bad year for the asset. Even though it reached $351 in June, the coin surprised everyone when the price started falling down to $136.

On the positive side, after going through a few crashes, ETH is still going strong and stays the second-largest cryptocurrency by market cap. Ether even posted higher lows when it was compared to its peer-Bitcoin. With the much-awaited Proof of Stake transition that is looming from the corner, the latest ETH price prediction seems quite lucrative for the crypto traders.  While Bitcoin enjoyed the attention from over the past month, the investors are now focusing on other cryptocurrencies mainly because of the bitcoin halving event and the markets going back to their normal day-to-day fluctuations.

ETH transactions

ETH Transactions (Source Coinmetrics)

Ethereum generated a lot of interest among the users which allowed the ETH market cap to reach a whopping $23 billion with 111,008,308 ETH in circulating supply. ETH was changing hands at $209 at the time of writing but will it rise further? The newer projects such as Cardano, Stellar, NEO, EOS, and TRON are seeking to replace Ethereum as the smart contract platform by avoiding technical issues that it had in the past.

To stay afloat and to beat its competition, Ethereum moves to Ethereum 2.0 by transitioning from the proof of work model to the proof of stake consensus mechanism that will take place on June 30. However, some experts such as Ryan Selikis, the CEO of the crypto analytics firm Messari, believe that Ethereum 2.0 transition could get delayed until 2021. The shift towards Ethereum 2.0 is one of the most awaited events by the crypto enthusiasts as it is supposed to transform the ETH network by bounds and leaps. Many people feel optimistic about the changes since there are reports of Ethereum on-chain metrics surging including the daily transactions.

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