Institutional investors and wealth managers from across Europe are predicting the price of Ethereum will be $2,000 or more by the end of the year. Research by Nickel Digital Asset Management found widespread support for increases in the valuation of Ethereum during 2023 with 72 per cent predicting growth from levels of $1,254. Just four per cent believe the price will drop below $1,000 by the end of 2023. One factor supporting growth is the long-awaited upgrade to ‘Proof of Stake’ known as ‘The Merge’ which was completed last year. Around 85 per cent of institutional investors and wealth managers are aware that the change has taken place. Professional investors believe ‘The Merge’ and particularly the resultant reduction in energy consumption by as much as 99.9 per cent will be positive for the widespread adoption of Ethereum. Around 77 per cent believe it will increase the adoption of Ethereum with 23 per cent saying it will dramatically increase adoption.
- PWC