Furthermore, the fee burning mechanism exists to regulate the price of the gas fees themselves to ensure that the users are paying a fair amount for their transactions. It’s possible that the issues related to Ethereum price including gas fees will be further mitigated with the launch of Ethereum 2.0. 1 ETH = 1,581.32 USD Furthermore, the promise for Ethereum 2.0 has conjured interest from institutional traders who have invested in the coin, giving it a strong speculative value. Ethereum 2.0 is a major improvement on the blockchain’s network, and while it isn’t the first upgrade that’s been made (or expected to be made), it’s nevertheless significant because it’s expected to catapult Ethereum to a total value locked (TVL) balloon.
On CoinCodex, you can stay up to date with the latest information regarding Ethereum and check algorithmically generated Ethereum price predictions to gain a sense of where its price is likely headed in the near term. Ethereum Closing Price (USD) - Quarterly A good example is the formation of the Ethereum Alliance in March 2017. Members of the Alliance are prominent companies like Microsoft, Mastercard, ING, and Shell. By being part of the Alliance, they expressed their confidence in Ethereum. In turn, the price of ether went through the roof that month- it’s value almost tripled! Of course, it can’t be said for sure that the formation of the Ethereum Alliance was solely responsible for this increase, but it’s effect was evident.