Ethereum Price Prediction – Here’s Why IMPT Will Overtake ETH Price in 2023 – NewsWatchTV
IMPT enables users the ability to connect to a large ecosystem of socially responsible brands as well as businesses that aim to reduce their carbon footprint.
IMPT relies on blockchain technology to empower anyone to buy, sell or retire carbon credits, and mint NFTs which can be used for investment purposes, and today, we will be diving into why it can overtake the price of ETH in 2023.
Ethereum Price Prediction
Ethereum (ETH) is the second-largest cryptocurrency when we look at it from the perspective of market capitalization and popularity and as such, it has been a huge point of comparison for many projects.
Ethereum was originally developed to feature the Proof-of-Work (PoW) consensus mechanism.
This essentially meant that miners could contribute mining equipment and electricity to confirm the transactions on the blockchain.
Due to the vast popularity of the network in Decentralized Finance (DeFi) and the development of thousands of decentralized applications (dApps), it saw a lot of usage and, in turn, generated a lot of gas fees, out of which miners would benefit.
Why Did Ethereum’s Value Crash?
Ethereum finalized ‘The Merge’ at block 15537393 on September 15, 2022, which shifted the network to a Proof-of-Stake (PoS) consensus mechanism, which made the project a lot better for the environment. But miners were at a loss and had to jump ship and switch to another network if they wanted to profit from mining cryptocurrencies, as Ethereum had to be staked now.
This put the value of the ETH cryptocurrency on a bearish trend, where the cryptocurrency began decreasing in value as many miners began leaving the network.
The Current Performance of Ethereum
As of October 11, 2022, Ethereum (ETH) has a value of $1,276.49.
On the day the Merge went live, Ethereum had a value of $1,638.31. Here we can see that the cryptocurrency has decreased in value by 22.08%.
The all-time high of the Ethereum (ETH) cryptocurrency was on November 10, 2021, when it reached a value of $4,878.26. This means that ETH is currently trading at a decrease of 73.83%.
However, to get a better perspective surrounding its current and future value, we will also go over its weekly and 24-hour performance.
Going over its weekly performance, Ethereum had its 7-day low at a value of $1,276.61, while its 7-day high was at a value of $1,383.46. Here we can see that within the span of 7-days, the token experienced a difference in the value of 8.37%.
When we look at its 24-hour performance, however, its low point was at $1,274.24, while its high point was at $1,320.43. Within the span of 24 hours, this difference was at 3.62%.
Based on all of this data, it is clear what we can expect from the future of Ethereum. If this downward trend continues, the cryptocurrency might go under the $1,000 price point within the next three weeks. However, if a lot more stakers began entering the network and the demand for the cryptocurrency increases at best, we can expect Ethereum to increase to $1,300 within the span of the next three to four weeks, which is still not a huge difference in value.
IMPT and Its Future
IMPT is one of the latest and most ambitious projects within the crypto space. In fact, IMPT as a whole is a cryptocurrency initiative aimed at lowering carbon output through carbon credits alongside a social media platform that can encourage people to essentially minimize their carbon footprint.
The platform’s usage of blockchain technology allows it to give out verifiable carbon credits, which in turn removes the possibility of scams, as all of the data is recorded on top of the public ledger.
There are over 10,000 brands on a global level that have joined the project, aimed at assisting it in reaching a large audience.
Many factors make IIMPT one of the most sustainable cryptocurrencies that you can essentially get in 2020 and beyond. However, these are the most important ones:
- Each user can purchase products from environmentally-conscious brands using the official shopping application while also earning IMPT tokens as a reward for doing so, incentivizing a greener environment. This also works for purchases made offline.
- Once a user gets a specific number of tokens, they can utilize them to mint a carbon credit.
- These carbon credits get minted in the form of Non-Fungible Tokens (NFTs) on top of the platform, eliminating chances of double-counting.
- These can then be bought, sold, or retired on IMPT.
- Each user will also be able to track the impact of the IMPT social platform and choose numerous projects that follow the Global Certification protocols.
Now you might wonder, how can IMPT overtake Ethereum (ETH)?
IMPT is one of the largest-growing projects out there, which is currently undergoing its presale round. What this essentially means is that it is selling 600,000,000 tokens.
- The Presale 1 round sells 1 IMPT token for $0.018.
- The Presale 2 round will sell them at $0.023.
- The Presale 3 round will sell them at $0.028.
Currently, there are over 175,709,414 coins sold as of October 11, 2022, with a total raise of $3,162,769.452 from the project.
This indicates two things: that each of those tokens will ultimately increase in value and that there is a massive demand for this token at the moment. By 2023, IMPT has the potential to overtake Ethereum in terms of price.
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