Before Ethereum (ETH) broke through its new All-Time High recently, there were around 50 fintech experts surveyed by Finder.
The goal is that the data and analytics company headquartered in Sydney wants to predict the outlook for the fourth quarter of 2021 price of ETH and its long-term reach.
One of the Finder panelists for this survey is Daniel Polotsky, founder and chief advisor of CoinFlip, a US-based Bitcoin ATM network.
Polotsky told Finder that he expects Ethereum to end the year at $4,500 and claims that Ethereum’s growth could even outpace Bitcoin’s.
“Ethereum does a better job of supporting development on its blockchain and will have a lighter proof-of-stake mining model than Bitcoin. This is the potential backbone of Web 3.0,” he said.
Another survey revealed by Origin Protocol co-founder Joshua Fraser told Finder.
“Ultimately, Ethereum will become one of the world’s premier financial settlement layers. The price of ETH will reflect this future reality.”
Meanwhile, according to the average of estimates compiled from the panel, 50 fintech experts predict the price of ETH to reach $5,114 by the end of this year.
Predictions aside, amid the explosive growth of DeFi and NFT, scalability has become a major issue for Ethereum due to the growing number of applications and users.
The developers are working hard to make Ethereum more scalable, secure, and sustainable by progressively upgrading Ethereum 2.0.
The Beacon Chain upgrade, which was implemented in December, marks the first upgrade of ETH 2.0 and brings staking to the Ethereum ecosystem.
However, Ethereum creator Vitalk Buterin revealed that the full rollout of Ethereum 2.0 could take years, he said at a conference in Shanghai this week.
Meanwhile, The Merge merging the Ethereum mainnet with the proof-of-stake system on the Beacon Chain will mark the end of Ethereum’s proof-of-work and is scheduled to be operational in 2022.
Sharding, multi-phase checks to improve Ethereum’s scalability, and improve capacity through the use of shard chains to spread network load to 64 new chains, will follow in 2022, after The Merge.
Altair, the first mainnet upgrade to Beacon Chain, is scheduled for epoch number 74,240 today.
Around 78% of Finder panelists surveyed expect the ETH 2.0 upgrade to be completed soon to resolve Ethereum’s scalability issues.
Speaking at Shanghai International Blockchain Week 2021 this week, Buterin said that layer-2 is the future of Ethereum scaling and the only secure way to scale ETH when it comes to keeping it decentralized at the same time.