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Ethereum Price Prediction for 2022
Analysts predict a robust 2022 after a very strong 2021 in which ETH was propelled higher by growth in ETH-based initiatives.
Ethereum had a spectacular year in 2021. On December 31, 2020, ETH/USD was trading in the low $700 range. As the end of December 2021 approaches, the price of ETH is approaching $4000 per token. This equates to year-on-year increases of well over 300 percent. This compared to a year-to-date return on BTC/USD of only over 80% at the time of writing.
Following that, ETH/BTC surged significantly in 2021, from less than 0.03 to current prices around to annual highs of 0.08. Ethereum’s overall market value is just under $500 billion as of Friday morning, while Bitcoin’s is just under $1 trillion.
Web3’s burgeoning growth propels ETH’s outperformance.
This year’s outperformance of ethereum over bitcoin has been ascribed to the former’s superior versatility in terms of integration with dApps, DeFi, and NFT initiatives, according to cryptocurrency analysts. Indeed, there was a surge of interest in these sectors in 2021, as well as in famous meme currencies like Shiba Inu, with the majority of initiatives in these areas based on the Ethereum platform.
“Ethereum, aided by enthusiasm for its promise to power the fledgling web3 and the…
