🥛 ETH hit an 8-month high 💰 Here's why... (2023)

GM. This is Milk Road. We shed more light on the crypto space than a Lite-Brite.

🥛 ETH hit an 8-month high 💰 Here's why... (2)

Here’s what we’re serving up today:

  • ETH hits an 8-month high ⚡
  • OpenSea Pro is taking on Blur ⚔️
  • Euler Finance: Crypto’s Comeback Kid 💸
  • Trademark Thursday: Tencent & Web3 Gaming 📂
  • Happy 48th birthday to Satoshi 🍪
🥛 ETH hit an 8-month high 💰 Here's why... (3)

Today's edition is brought to you by White MirrorNFTs,a community of filmmakers, creators, and movie fans looking to develop the next generation of A.I. films.

ETH HITS AN 8-MONTH HIGH ⚡

MAY I HAVE YOUR ATTENTION PLEASE… ETH just hit an 8-month high.

I repeat, ETH is higher than it’s been in 8 months. 🎵Yea we poppin’ champagne like we won a championship game🎵

ETH clocked in at $1,913 yesterday and was +5% on the day. It hasn’t been this good since Aug. 17, 2022.

Why the rise? 2 things:

1/ The sharks are swimmin’

Addresses holding 100-10K ETH are called sharks. (The Milk Man tells me they’re the second-biggest wallets in the Crypto Sea, behind whales.)

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And lately, they’ve been eating up ETH like it was a scene from Jaws.

Sharks added 2.27M ETH to their wallets, worth $4.2B over the last 9 months. That’s around 1.4% of the total ETH supply.

So what? It’s seen as bullish when sharks accumulate this much of a digital asset. They own more ETH than they have in over a year, and that could be tied to ETH’s 8-month ATH.

2/ The Shapella Upgrade

Not to pull a fast one on you, but we’re calling Ethereum’s April 12 unstaking event the Shapella upgrade now.

Shanghai refers to Ethereum’s execution layer update. But the protocol’s consensus layer will get an upgrade known as Capella. That’s right, the Ethereum network is layered like an onion.

Shanghai + Capella = Shapella

Everyone’s been antsy for it. That anticipation could be what’s driven the price up over the past few months.

Who knows if ETH’s price might tank after the dust settles from the upgrade. But for now…we’re ordering the wagyu from the menu tonight.

MAKE AN A.I. MOVIE WITH WHITE MIRROR NFTS

I’ll say it:today’s movies suck. The story plots are predictable and the visuals haven’t improved since Avatar came out in 2009...

Well, there’s a new filmmaking wave coming - AI movies. But there’s a problem: the tools are confusing to use...

IntroducingWhite Mirror NFTs, a community of filmmakers, creators, and movie fans looking to develop the next generation of A.I. films. By joining, you’ll:

  • Get access to the who-is-who of A.I. filmmaking, like Tino Schaedler and others
  • Join the creative process by voting on ideas, giving early feedback, and talking directly with the creators
  • Learn how to use popular A.I. tools like ChatGPT, Midjourney, and more
  • Be featured in the outro of the film that is created

The White Mirror NFT collection will be open for a full week and will start on April 13th. It’s an open-ended collection but there are special perks & benefits for the first 99 to mint.

This is a story that you don’t want to miss.

Join White Mirror's Discord

🥛 ETH hit an 8-month high 💰 Here's why... (6)

OPENSEA PRO LAUNCHES FOR SEASONED TRADERS ⚔️

OpenSea just made a power move. It launched a new NFT marketplace for pro traders called OpenSea Pro.

That’s right folks, it used the oldest trick in the corporate book: tack on “Pro” and call it a day.

🥛 ETH hit an 8-month high 💰 Here's why... (7)

Here’s everything you need to know. It will:

  • Be a separate platform from the OG OpenSea. The new “Pro” version is just the new name for Gem V2, an aggregator platform it bought 6 months ago.
  • Have NFT listings aggregated from ~170 marketplaces. That’ll help traders get the best deals out there.
  • Charge 0% fees. For a limited time, you can list on OpenSea with no fees through OpenSea Pro for the most popular collections. The OG platform will also go back to its normal 2.5% fee (boo!)
  • Reward users with NFTs…somehow. Other platforms, like Blur, reward users with tokens, but OpenSea plans to reward users with: NFTs. We don’t know much yet, but ~43K users have already claimed their early access NFT rewards.
  • You can use it on your phone (!!!!) This is a biggie; OpenSea users could only ever view, not trade, NFTs on mobile devices.

So what? OpenSea bought Gem last year to target pro traders. Now that Blur has launched and taken the NFT marketplace throne, it looks like OpenSea finally made its counter-move.

It’s trynna be that buddy that lets you win at ping pong early on so you think they suck, but then they come back and kick your a**.

Who knows if OpenSea Pro will beat Blur - 69% of NFT trades were on Blur in March vs. 20% on OpenSea, but we’ll get a better idea in the next couple of months.

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In the meantime, we get to just sit back and use all the cool new features while they duke it out.

🥛 ETH hit an 8-month high 💰 Here's why... (8)

EULER FINANCE’S COMEBACK 💸

Wow, do we have a comeback story for you. I’m talking about a Supa Hot Fire type comeback that had everyone in crypto like...

🥛 ETH hit an 8-month high 💰 Here's why... (9)

Enter Euler Finance - the lending protocol that got hacked for ~$200M. After a wild turn of events, they’ve recovered most of it back.

The last time we covered this there was a battle of the hackers, failed negotiations, and more drama than an episode of Keeping Up with the Kardashians.

Since then:

  • The Euler hackers had some internal fights and threatened to turn on each other.
  • They realized money laundering is a lot harder than it looks like on that Netflix show Ozark. Respect to Marty Byrde.
  • A bunch of blockchain investigators teamed up to track the hackers’ movements.

In the end, the hackers had a change of heart and decided to return the funds.

So what? History has been made - it’s the largest recovery of stolen funds, EVER, and Euler’s customers get their money back.

Several protocols had their funds stuck on the platform and some lost their entire treasuries.

Now, the day is saved. FINALLY - a crypto story with a happy ending.

🥛 ETH hit an 8-month high 💰 Here's why... (10)

TRADEMARK THURSDAY 📂

Some of the biggest companies in the world are hopping aboard the Web3 train. And it’s moving faster than Elon's Hyperloop.

So just in case you blinked and missed something, Trademark Thursday is here to get you up to speed:

🥛 ETH hit an 8-month high 💰 Here's why... (11)

MILK & COOKIES 🍪

Happy (belated) 48th Birthday to Satoshi Nakomoto. No one knows who the creator of Bitcoin is, but the birthday on their foundation profile page is April 5, 1975. Cheers to Satoshi, whoever you are and wherever you are.

MicroStrategy bought another 1,045 Bitcoin. It now owns 140,000 Bitcoin and 1 out of every 150 Bitcoin that will ever exist. Can’t stop, won’t stop.

Ralph Lauren is now accepting crypto payments in its Miami store. It partnered with BitPay to make it happen and will be accepting BTC, ETH, DOGE, and more. Crypto 🤝 Fashion.

🥛 ETH hit an 8-month high 💰 Here's why... (12)

MILKY MEME🤣

🥛 ETH hit an 8-month high 💰 Here's why... (13)
🥛 ETH hit an 8-month high 💰 Here's why... (14)

That's a wrap for today. Meet us on Twitter to talk all about it. It’s kinda like a family BBQ but better - no screaming kids, awkward photos, or drunk uncles telling weird stories(@MilkRoadDaily)

HIT THE INBOX OF 250K+ CRYPTO INVESTORS

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ROADER REVIEW OF THE DAY

🥛 ETH hit an 8-month high 💰 Here's why... (15)

VITALIK PIC OF THE DAY

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DISCLAIMER:None of this is financial advice. This newsletter is strictly educational and is not investment advice or a solicitation to buy or sell any assets or to make any financial decisions. Please be careful and do your own research.

FAQs

Why is ether going up? ›

Factors such as positive regulatory clarity and an easing of interest rate hikes may prove to be long-term catalysts for price growth. Ether's price volatility is likely to continue.

Will Ethereum value go up? ›

Our most recent Ethereum price forecast indicates that its value will increase by 3.66% and reach $1,795.39 by March 30, 2023.

Is Ethereum or Bitcoin better? ›

Some experts say that the comparison between Ethereum and Bitcoin is like comparing electricity with gold. The argument is that there's really no utility to Bitcoin other than being a store of value. The Ethereum network, on the other hand, brings virtually limitless possibilities.

Is it safe to buy Ethereum now? ›

Crypto is notoriously volatile, and Ethereum is no exception. Don't invest anything you can't afford to lose, be sure you're willing to keep your money invested for at least a few years, and prepare for more volatility in the near term.

How high can Ethereum go? ›

How high can ethereum go? According to Telegaon on 18 April 2023, ETH could trade at $45,128.53 in 2050, while CaptainAltCoin suggested it could reach $85,001.31 by 2040.

Will Ethereum ever reach $100 000? ›

Conclusion: Yes, Ethereum Can Reach $100K

Many experts are eyeing these increasing use cases of Ethereum daily. A growing number of them have all agreed that it's merely a case of time before Ethereum potentially surges to $100,000 or more.

Should I hold or sell my Ethereum? ›

Assuming the 90 days trading horizon and your above-average risk tolerance, our recommendation regarding Ethereum is 'Strong Sell'. Macroaxis provides Ethereum buy-hold-or-sell recommendation only in the context of selected investment horizon and investor attitude towards risk assumed by holding Ethereum positions.

How high can Ethereum go in 2023? ›

Many experts believe Ethereum is in for a bright 2023, with the possibility of hitting $2,000 by year end, at the latest. This makes it a solid buy for investors.

Can Ethereum reach $50,000? ›

As a major milestone that has been forecasted by analysts and experts for Bitcoin (BTC) to reach in the long term, many traders and investors also want to know if Ethereum can hit $50,000 someday. YES! Ethereum could reach $50,000 by the end of 2029 as per the price forecast of experts at the Price Prediction.Net.

How many Ethereum are left? ›

Ethereum Supply is at a current level of 119.37M, down from 119.43M yesterday and up from 118.83M one year ago. This is a change of -0.06% from yesterday and 0.46% from one year ago.

Will Ethereum overtake Bitcoin value? ›

This price is expected to rise in the on-coming year (2022), with quite a few experts in finance and cryptocurrency believing that ether will overtake bitcoin. Here are a few reasons as to why people believe that Ethereum will overtake bitcoin in the coming future.

Can I sell Ethereum for cash? ›

Absolutely! The most common way to cash out Ethereum is by using a crypto exchange. A cryptocurrency exchange is exactly that – you can exchange one currency for another. Cashing out Ethereum is when you exchange your cryptocurrency for fiat currency (usually Dollars or Euros).

What will Ethereum be in 2023? ›

Ethereum Price Prediction by Cryptopolitan
YearMinimum PriceMaximum Price
2023$2,589$2,983
2024$3,887$4,560
2025$5,815$6,838
2026$8,168$10,248
6 more rows

What should I do after buying Ethereum? ›

After your purchase of Ethereum has been processed, you have to store your cryptocurrency. While some platforms will store it for you, some people opt to store their investments themselves to reduce the likelihood they will lose their crypto to a hack.

What crypto will explode in 2023? ›

Love Hate Inu (LHINU) – Next Vote-to-Earn Meme Crypto to Explode in 2023. DeeLance (DLANCE) – Decentralized Platform for Freelancers and Recruiters with Upside Potential. Ecoterra (ECOTERRA) – Green Crypto Offering High Recycling Rewards. Metropoly (METRO) – Real Estate Altcoin with Real World Utility.

Where will Ethereum be in 5 years? ›

As per long-term Ethereum price predictions, ETH is an especially great asset for investment for traders who can take advantage of these short and long-term price swings.
...
Ethereum Price Predictions – 2023 to 2030.
YEARMINIMUM PRICEMAXIMUM PRICE
2024$3,300$4,100
2025$4,300$6,000
2026$6,200$7,500
2027$6,400$7,600
4 more rows

How much will 1 Ethereum be worth in 2030? ›

Ethereum Price Prediction 2030

Our ETH price prediction 2030 indicated the coin may record a significant high of $14,088 by the end of 2030. At the same time, the minimum and average ETH value for the year may be around $9,392 and $11,740.

What will Ethereum be worth in 2024? ›

According to the Ethereum Price Prediction model above, ETH's price in February 2024 would be $2179.44. This price would however would range from $2332.00 and $2026.88.

How much Ethereum do I need to become a millionaire? ›

Investors would need to own at least 800 ETH to classify as millionaires at the current price of Ethereum, which is around $1,800. Using Etherscan, we can see that there are over 8,350 wallet addresses carrying over 800 EHT, which is considerably less than Bitcoin but still worth a significant amount.

What if you bought $100 Ethereum 5 years ago? ›

Despite being down 22% this year (as of April 28), a $100 investment in Ethereum (ETH 1.24%) five years ago would be worth a whopping $4,000 today. Let's take a closer look at the world's second-most-valuable cryptocurrency, which carries a market cap of $358 billion as of this writing.

When should I take profits on Ethereum? ›

People have different preferences depending on how much risk they're willing to take. However, most traders target at least 50% before they take profits. That being said, you can target 100% profits too before you decide to take. You can even target higher percentages.

When should I sell my ETH? ›

You might sell ETH if you want to: Adjust your long-term crypto portfolio strategy. Avoid losses in times of sudden price movements. Capture gains from past ETH purchases.

What will Ethereum be worth in 2040? ›

Ethereum (ETH) Price Prediction
YearMinimum PriceMaximum Price
2029$8,413.12$9,187.70
2030$9,296.76$10,131.42
2040$21,513.45$25,241.81
2050$41,213.29$50,156.47
6 more rows

What is a realistic Ethereum price 2025? ›

Ethereum (ETH) Price Predictions 2023 - 2031
YearMinimum PriceAverage Price
2025$6,075.02$6,644.55
2026$7,973.46$8,543.00
2027$9,871.91$10,441.44
2028$11,770.35$12,339.88
5 more rows
Apr 5, 2023

How much will Ethereum be 10 years from now? ›

How much will Ethereum be worth in 10 years? If you invest in Ethereum today, as with any investment, a long term increase is expected. The price of ETH could possibly rise to $26,605.10 within the next 10 years.

What will Ethereum price be in 2026? ›

According to the Ethereum Price Prediction model above, ETH's price in May 2026 would be $4164.75. This price would however would range from $4456.28 and $3873.22.

How much is 1,000 Ethereum in 5 years? ›

As the world's second-largest crypto coin by market cap, Ethereum proved an excellent investment choice with an impressive five-year return rate. According to data presented by BlockArabia.com, a $1,000 investment in Ethereum five years ago would be worth nearly $195,000 today, bringing a whopping 19,400% gain.

What would $100 in Ethereum be worth today? ›

The conversion value for 100 ETH to 208833 USD. BeInCrypto is currently using the following exchange rate 2088.33. You can convert ETH to other currencies like BTC, STETH or BNB. We updated our exchange rates on 2023/04/18 20:59.

How much Ethereum can $1000 dollars buy? ›

The conversion value for 1000 USD to 0.478 ETH.

Why is ether gas so high now? ›

The popularity of NFTs on Ethereum. Many spikes in gas prices can be attributed to highly anticipated NFT drops. Ethereum is the home of DeFi (decentralized finance). Many of the largest, most established dapps were built on Ethereum, and continue to be the biggest players in DeFi.

Will ether go down again? ›

Some analysts predict that Ethereum could reach $7,000 by 2025. However, with 2023 and 2024 expected to see another bull run with the next Bitcoin halving in early 2024, that may suggest the next down cycle is in 2025. In such a case, the coin could continue seeing a low at nearly $1,400.

Will Ethereum reach $50,000? ›

As a major milestone that has been forecasted by analysts and experts for Bitcoin (BTC) to reach in the long term, many traders and investors also want to know if Ethereum can hit $50,000 someday. YES! Ethereum could reach $50,000 by the end of 2029 as per the price forecast of experts at the Price Prediction.Net.

Will ether gas prices go down? ›

Ethereum's notorious gas fees are unlikely to fall straight after the Merge completes. It won't be until Ethereum 2.0 implements blockchain sharding that users see a reduction in on-chain gas fees.

Could Ether drop to $1,000? ›

Ether may drop to $1,000 for the first time in two months, with volatile price swings in the second-largest cryptocurrency ahead of its much-anticipated Merge upgrade.

What is the highest ETH gas ever? ›

For nearly two years, between Jan. 2021 and May 2022, the average gas fee required by the Ethereum network was roughly $40, with May 1, 2022 recording the highest average daily gas cost of $196.638.

How much will ether be in 10 years? ›

How much will Ethereum be worth in 10 years? If you invest in Ethereum today, as with any investment, a long term increase is expected. The price of ETH could possibly rise to $23,567.83 within the next 10 years.

How long will Ethereum go up? ›

For 2022-3 in general, we think recession risks pose a risk to ETH and so now might not be the best time to buy ethereum if you have a medium-term outlook. We think ethereum is a good long-term investment for the next one to three years and are bullish overall. That means we expect prices to rise in the long term.

Can you be a millionaire with Ethereum? ›

Despite its drawbacks, though, Ethereum still has plenty of long-term potential. While it may not make you a millionaire in the coming months, by staying invested for the long haul, it could potentially be a lucrative investment.

Will Ethereum fall to $500? ›

Crypto Hedge Fund Founder Predicts Ethereum Will Plunge to $500 in Two Months. Ethereum price not yet hit its lows and could fall a further 40%, says Pangea's Daniel Cheung. He points to the risk of recession, rising inflation and falling company earnings as factors that could derail equities, and ETH with it.

Will ETH price bounce back? ›

However, if history were to repeat itself, Ethereum would bounce back to at least thrice its previous high. According to expert analysis, here is Ethereum's price prediction between 2023-2025.
...
Ethereum Price Prediction: Any Hopes for Recovery?
YearExpected Price
2024$4,134
2025$5,495
1 more row
Jan 2, 2023

What are the cheapest times for ETH gas? ›

The best time to make an ETH transaction is on a Sunday from 6 AM to 8 AM (IST)—that's when ETH gas prices are at their lowest.

Will gas fees go down after the ETH merge? ›

“The Merge is a change of consensus mechanism, not an expansion of network capacity, and will not result in lower gas fees,” the foundation said. Ethereum is moving to proof of stake, which will make things more energy efficient—more than 99% more energy efficient, says the foundation—but not cheaper.

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