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Selling Ethereum in 2024: is now the right time?

Selling Ethereum in 2024: is now the right time?

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Ethereum is a decentralized blockchain that supports smart contracts and far-reaching dApps. If you wish to trade in ETH, you need to analyze the project’s performance, trends, upgrades and updates, and basically any other aspect that could impact its price. This will help you determine the right time to sell or buy ETH. Depending on these factors, you may then decide to hold onto your ETH or convert ETH to USD.

Here, we examine Ethereum in more detail to help you determine whether now is the perfect time to sell your ETH.

What Is Unique about Ethereum’s Technology?

The Ethereum network is an open-source protocol that runs on the Ethereum Virtual Machine. It supports an immense ecosystem of decentralized apps as a pioneer of blockchain smart contracts. Since its inception, Ethereum has been a pacesetter in digital trends such as NFTs, GameFi, Web3, Metaverse, and decentralized finance (DeFi).

Thanks to the network’s vast applications, serious concerns have emerged regarding its massive energy consumption, high transaction costs, and scalability. Some investors are already considering selling ETH in preference to its competitors — Solana, Polkadot, Binance Smart Chain, and Cardano. You can read more about some of these crypto projects on the Paybis blog.

Ethereum 2.0 Updates and Upgrades

Ethereum 2.0 reduces gas fees and increases transaction speed from 30 TPS to 100,000 TPS. The goal is to ensure ETH is more usable with increased adoption to grow and stabilize its price.

The upgrade also saw Ethereum move from the proof-of-work to the proof-of-stake consensus mechanism. This migration helped the network to reduce its carbon footprint by over 90%.

The evolution of Ethereum has been long in the pipeline. It started with the launch of the Beacon Chain in 2020, and ever since, we’ve witnessed the Berlin and London upgrades.

Other notable upgrades that followed included Arrow Glacier, Gray Glacier, Bellatrix, and Paris. The last three were collectively referred to as ‘The Merge.’

In 2023, the Uniswap V4, a new smart contract protocol, was launched. However, Ethereum’s developers also recently rolled out the Shanghai upgrade that would allow ETH validators to unlock staked ETH, making rewards accessible.

How Has Ethereum Performed in Previous Years?

Looking back at Ethereum’s ICO, we see how affordable the coin was at just $0.31. Up until 2016, the price averaged less than $1. ETH skyrocketed to an all-time high of $1,270 in 2018 but the real bull run came in 2021 when it hit an unprecedented $4,891.

Since then, the crypto market has experienced a bearish market, which saw most crypto projects shed a lot of their value. The crypto asset plunged to $890 on June 18, 2022, but has recovered well to register a 130% price gain from its current price. However, it’s important to note that it still grapples with a 58% decrease from its ATH.

Navigating through the highs and lows, Ethereum faced heightened volatility throughout 2023. Towards the end of October, the entire crypto market received a significant boost fueled by the anticipation of a Bitcoin Exchange-Traded Fund (ETF) approval in the coming months. This optimism propelled the price of ETH upward, breaching the $2,000 mark on November 9th for the first time since July.

What Is the Future of Ethereum?

Looking at expertly derived technical charts for Ethereum, there’s a strong indication that the price will pull through the $2,300 resistance point.

Once Ethereum 2.0 updates and upgrades start fully rolling out, experts have forecast ETH to hit $2,700 in 2024 and $3,000 by 2025.

Seasoned analysts and market veterans exhibit a bullish sentiment toward Ethereum, maintaining an optimistic outlook on its future price trajectory. Some even project that Ethereum could reach an impressive $40,000 by 2030. These forward-looking expectations underscore the confidence in Ethereum’s potential for substantial growth and sustained value over the coming decade.


Transformative Ethereum 2.0 updates are poised to enhance the network’s scalability and sustainability. With the current ETH price at $2,500 and a market cap of more than $300 billion, the crypto market continues to showcase Ethereum’s resilience.

As the crypto landscape evolves, staying informed and adaptable is crucial when considering selling ETH. Consider diversifying your portfolio away from Ethereum, you can exchange ETH for up-and-coming competitors such as Solana, Polkadot, Binance, or the more established Bitcoin.

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