Ethereum price movement: is ETH worth investing in on January 3?

Ethereum ETH/USD is a blockchain-based platform known for its cryptocurrency token, ETH. 

It is a blockchain network that enables smart contract functionality, on top of which decentralized finance (DeFi) and decentralized applications (dApps) are built upon.

The Transition to Proof-of-Stake (PoS) as a catalyst for growth

Ethereum has seen major developments as of recently. In fact, on December 20, Tim Beiko announced the Kintsugi Merge Testnet. 

However, the official publication noted that the Kintsugi testnet provides the community an opportunity through which they can experiment with post-merge Ethereum and identify any potential issues.

After this, long-lived testnets will all run through The Merge, and once these have been upgraded and are stable, the next step is the Ethereum mainnet’s transition to Proof-of-Stake (PoS).

On December 21, the Ethereum.org homepage also saw its own upgrade and went live in over 20 languages.

Additionally, on December 27, we covered how Ethereum gas fees became 69% cheaper than the previous month. All of these developments have contributed to the growth of the Ethereum ecosystem and the value of the ETH token.

Should you invest in Ethereum (ETH)?

On January 3, Ethereum (ETH) had a value of $3,824.51.

To get a better perspective as to what this value point means for the ETH token and how far it can climb, we will go over the all-time high value alongside the performance the token had in December.

Ethereum (ETH) had its all-time high value of $4,878.26 on November 10. Here, we can see that at its ATH point of value, the token was $1,053.75 higher in value or by 27%.

When we go over the token’s performance in December, we can see that on December 1, the ETH token had its highest point of value at $4,765.73.

Its lowest value point, however, was on December 30, when it decreased to $3,628.53 in value. This gives us an indication that from December 1 to December 30, the Ethereum (ETH) token decreased in value by $1,137.2.

However, from December 30 to January 3, the ETH token increased in value by $195.98 or by 5%.

With this in mind, we can expect Ethereum (ETH) to reach a value of $4,000 by the end of January.

The post Ethereum price movement: is ETH worth investing in on January 3? appeared first on Invezz.