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Home » News » The price of Ethereum is expected to reach $3,000 this month, while Ecoterra’s value is predicted to rise to $3 million.

The price of Ethereum is expected to reach $3,000 this month, while Ecoterra’s value is predicted to rise to $3 million.

Ethereum has been performing well in the crypto market this year and analysts predict that it could reach $3,000 by the end of April. The successful Shanghai upgrade allowed ETH stakers to access their tokens for the first time, without the expected huge withdrawals and flooding of the market. On the contrary, more validators are now staking ETH.
Many investors have favored Ethereum for a long time and it is expected to maintain its top two position in the next crypto bull run. However, even with a significant increase to $3,000, ETH would only represent a 43% increase. In comparison, eco-friendly ERC-20 project, ecoterra, is set to gain an 82% increase during its presale phases, making it an advantageous opportunity for early investors.

ETH Price Recap

After reaching an all-time price of $4,878 in November 2021, Ethereum – like the rest of the market – struggled through an extended bear market during 2022 and is only now showing signs of recovery.

The price briefly dipped below $1,000 in June 2022 but has been one of the top-performing coins in 2023.

Ethereum’s value is currently at $2,087, having decreased slightly from its peak of $2,135 during the weekend. However, it has seen a significant increase of 12.5% in the past week and a massive 75% since the beginning of the year. Ethereum has outperformed other cryptocurrencies such as Polygon, Polkadot, Dogecoin, and Shiba Inu.

Ethereum is also the most popular blockchain for decentralized app (dApp) builders, with 748 protocols, which is almost 200 more than its nearest rival, the Binance Smart Chain.

Additionally, Ethereum has six times more Total Value Locked (TVL) than the second-placed Tron, with a TVL of $32 billion compared to just $5.5 billion for Tron.

Ethereum’s success can be attributed to its recent upgrades such as the Shanghai hard fork, The Merge, and EIP 1559, which have helped cement Ethereum’s position as the leading blockchain for developers.

Is Ethereum on track to reach $3,000 this month?

The success of the Shanghai upgrade for Ethereum, which has led to increased staking and a rise in price. Daily limits on staking have been put in place to prevent a collapse in price due to sudden withdrawals.

Since the upgrade, around 1 million ETH has been withdrawn and 380,000 ETH has been deposited. The upgrade has also led to a significant increase in new stakers, which could potentially cause a dramatic increase in price if the Ethereum staking ratio increases to around 60%.

Additionally, with Bitcoin’s bullish price and a banking crisis in the rest of the crypto market, the outlook for Ethereum’s price is positive.

Chart Analysis

Ethereum has a huge amount of momentum and its 30-day moving average (yellow on chart below) continues to show a substantial rise above its 200-day average (blue), which suggests that more increases could follow in the coming days.

However, the coin’s relative strength index (purple) has dropped from an overbought 75 down to 70 – with $2,000 the key level of support. ETH has appeared to have consolidated above this level, though, and any correction is expected to be minor and temporary.

The short and long-term prospects, as outlined above, are extremely promising and the coin is expected to see sustained gains in the coming weeks and months.

Ethereum Alternative Ecoterra is on its Way to Raising $3m

While Ethereum certainly has bullish momentum in the coming weeks and months, a rise to $3,000 would only mark a 42% increase for those who invest today.

Ecoterra, on the other hand, is a brand new crypto project that has only just launched but has already raised more than $1.4 million in just two weeks of its presale starting – at that same rate of sale the presale will reach $3 million by the end of the month.

With the presale only in stage 3 of 9, ECOTERRA tokens will see an increase in the price of 82% by the time the project has its initial exchange offering (IEO) – with tokens rising from the current price of $0.0055 to $0.01.

That makes the presale have higher reward potential than ETH does, with the project also developing one of the most eco-friendly protocols on the market.

Ecoterra has produced a novel concept for Web3, Recycle2Earn, which sees users earn rewards simply for recycling household waste. To earn rewards, users simply take recyclable items – such as plastic, glass or cardboard – to a Reverse Vending Machine, which are available in tens of thousands of supermarkets globally.

The barcode most then be scanned in the ecoterra mobile app and deposited. Each item has a value attached to it and ECOTERRA tokens are then deposited to the user.

The project, therefore, allows users to earn rewards while helping to fight climate change. ECOTERRA tokens can then be sold on an exchange, held as a long-term investment or staked to generate a passive income stream.

The tokens have further utility because they can also be spent to further help the fight against global warming. That can be done by funding ventures such as beach clean-up or tree planting, or by purchasing verified Carbon Credits, which remove CO2 from the atmosphere.

Users also earn further rewards, such as NFTs, when they hit certain milestones and achievements, helping to gamify the project.

Within the ecoterra mobile app they have also developed a recyclers marketplace to connect recyclers with individuals and businesses.

The project has been developed by a doxxed and KYC-verifed team that have made 50% of the 2 billion supply available during the presale. There is no vesting period on presale tokens and a hard cap of $6.7 million.

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