Ethereum (ETH) may have been trading lower last week along with the overall cryptocurrency market, but the crypto community is still optimistic about the price action until the end of May.
Crypto community predicted Ethereum price for May 31, 2022!
Despite the recent drop in Ethereum’s price, the community at CoinMarketCap predicts that the digital currency will trade at an average of $3,634 by the end of May 2022 with 21,532 votes and 80% historical accuracy.
The price, estimated by community votes, marks an increase of $77.80 (+26.92%) from the current value of the decentralized finance (DeFi) asset of $2,863.
ETH May price prediction. Source: CoinMarketCap
At the same time, 13,640 community votes for the end of June set a slightly lower target than in May, indicating that ETH would trade at $3,260.93 on June 30, up $396.07, or 13.89 percent from the current price. guesses.
Based on the performance of previous forecasts, the crypto community has historically predicted the end-of-month price of Ethereum with 79.85% accuracy.
ETH historical accuracy. Source: CoinMarketCap
ETH price analysis
Currently, Ethereum is trading at $2,863, down 3.93% on the day and 9.02% over the previous seven days, according to data from CoinMarketCap.
Ethereum 7 day price chart. Source: CoinMarketCap
The thing is, Ethereum maintains its position as the second largest digital asset by market cap with a total market cap of $347.23 billion.