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The price of Ethereum, the world’s second most popular digital currency after bitcoin, fell on Saturday. The price of Ethereum declined by 2.45 per cent or Rs 3,654 to Rs 1,45,573. After this fall, the market capitalization of this digital currency has also increased to Rs 16.5 trillion.
Ethereum will reach new heights this year
Research website Finder and a global research team from UK-based multinational bank, Standard Chartered also predicted that Ethereum could cross Rs 3.50 lakh in 2021, which it has already crossed. But with the end of the year, there was a sharp fall in its price and its price came down far below this figure. At the moment, experts of the crypto market expect that in the year 2022, its price will see a sharp increase and its price will also exceed the previously estimated figure.
Ethereum will have the most transactions this year
Expressing their opinion on Ethereum, 51 percent of Finder Research Panel believes that Ethereum will be the most bought and sold cryptocurrency in the year 2022. Whereas 49 percent of the panelists believe that bitcoin will have the highest number of transactions. Investors made a lot of money through this cryptocurrency in 2021, even though the decline that started at the end of the year continues after the start of the new year.
Expected to reach 14 lakhs by 2025
Ethereum is a blockchain based software platform, the world’s second largest popular cryptocurrency after bitcoin. It was launched in 2015 by Vitalik Buterin. Ethereum is not only a cryptocurrency, but also a decentralized app store that helps developers create, publish and distribute applications. Analysts estimate that by the year 2025, the price of one Ethereum can touch the level of $ 19842 i.e. around Rs 14,88,150. Panelists, including Thomson Reuters technologist Shvemchi Tmbraldep and Shravas Gyanhamat of LMX Group, believe that the valuation and innovation of Ethereum will be boosted. Standard Chartered also believes that the ongoing upgrade will improve the functionality and efficiency of Ethereum.
Right time to buy Ethereum
Analysts say that the price of this cryptocurrency is steadily increasing. So this is the right time to buy Ethereum. However, some panelists have also advised investors to put Ethereum on hold. Although investor interest in it is less as compared to bitcoin, but due to its continuous increase in price, the expectation of its increase in popularity has increased.