Ethereum, the second largest cryptocurrency by marketcap, is still undervalued since the Merge.
According to a recent study by financial services company Finder, nearly half of 55 fintech and cryptocurrency experts think Ethereum is underpriced since the network switched to a proof-of-stake blockchain through “The Merge” upgrade last month.
23% of the panelists in the survey said the token was overpriced, while 46% thought Ether should be valued higher.
According to the panelists, ETH may close 2022 at around $1,377 but is predicted to drop as low as US$963 before rising to a high of $1,722 this year.
Osom Finance Chief Executive Anton Altement said in the report,
“Allround market pessimism driven by Fed’s actions and still locked ETH staking are the key factors holding back the price. Former should disappear by December, latter by next spring — those 2 events will unlock the next legs of the rally.”
According to CoinMarketCap data, Ether (ETH) is trading at $1,320.25 at the time of publication, having gained 3.4% of its value over the last 24 hours.
In contrast, the forecasters at Finder believe that the price of Ethereum will rise to $5,154 by 2025 and to $11,727 by 2030.