 ▲ Ethereum (ETH) © |
Ethereum plunged below the psychological support level of $2,000 as it faced a double blow from a broader slump in the cryptocurrency market and large-scale selling by its founder. However, experts believe this decline is only a short-term shock and that, in the long run, Ethereum has the potential to recover more strongly on the back of technologies such as tokenization.
According to cryptocurrency-focused outlet Watcher Guru on February 6 (local time), Ethereum (ETH) fell 9% over the past 24 hours, sliding to the $1,900 level. Over the past month, losses have reached as much as 40%, dimming the former glory of its $4,000 peak. This sharp drop is attributed to a macro downturn that erased trillions of dollars from the overall market, compounded by large-scale selling by Vitalik Buterin that rattled investor sentiment.
The recent sale by Vitalik Buterin that shook the market amounted to approximately 16,384 ETH. However, it was revealed that this was not mere profit-taking but an investment aimed at the future of the Ethereum ecosystem. Buterin plans to use the funds to support open-source initiatives, including privacy-preserving technologies such as zero-knowledge (ZK) proofs, security hardware, and encrypted messaging applications. While it caused temporary market turbulence, the move is seen as a step to strengthen the network’s fundamentals over the long term.
According to data from CoinCodex, Ethereum is believed to have already reached a bottom around $1,900. If the market regains stability, Ethereum is projected to recover to $2,263 by the end of 2026 (+16.69% from current levels) and reach $3,947 (+103.52%) by 2030. Even longer-term bullish scenarios have been presented, suggesting a rise to $6,453 by 2040 and $9,495 by 2050.
Experts agree that despite the current volatility, Ethereum is likely to make a stronger comeback in the end. In particular, practical use cases such as asset tokenization are expected to underpin Ethereum’s value and serve as a key driver of long-term growth.
*Disclaimer: This article is provided for investment reference only, and no responsibility is assumed for any investment losses incurred based on this content. The information should be interpreted solely for informational purposes.*