Like most cryptocurrencies, 2022 started on a rough note for Ethereum, which nearly halved to $2,200 in January from $4,000 last year. Things looked peachy for the world’s second-largest crypto in 2021 as Ether (ETH) traded around the $4,000 mark, and its global market cap rose to $500 billion by the end of the year. However, the New Year started on a rough note for Ethereum, whoch slid to $2,200 odd levels in January following interest rate hike indications from the Federal Reserve. Ether has since stabilised and even begun to recover slowly. It is currently trading at around $2,740 on CoinMarketCap.
Despite the erratic price actions, experts remain bullish on Ethereum for 2022. Some even predict the cryptocurrency will breach the $12,000 mark by the end of the year. The optimism stems from multiple developments in the Ethereum network that could make it faster and more efficient.