In October 2022, the Ethereum price increased by nearly 20%, leading traders to forecast a potential ETH price target of $2K next.
However, the overall macro bearish trend in the crypto markets has led some investors to seek new cryptocurrency assets.
One of the most talked about cryptocurrencies in 2022 is IMPT – a sustainable cryptocurrency token built on the Ethereum network.
As Ethereum’s move to a Proof-of-Stake algorithm has significantly reduced its detrimental environmental impact, IMPT has been built on top of this network to offer carbon-offsetting strategies via blockchain technology.
The below guide speculates on a possible Ethereum’s price prediction for 2022 while comparing it to IMPT.
Ethereum Rises in October 2022
After reaching an all-time high (ATH) of nearly $4,500 in November 2021, ETH and the overall markets have experienced bearish momentum.
Since January 2022, the token has dropped by nearly 60% – losing around $400 billion worth of market capitalization.
However, the token has shown signs of reversal in October. Ethereum recently rose from the $1,330 level to a month-high of $1,663 – a 25% price jump.
One of the reasons for this upward momentum is due to the United Kingdom’s new proposal to include cryptos as a regulated asset class as part of the Financial Services and Markets Bill.
In 2022, Ethereum also conducted its much-awaited network upgrade, making it a Proof-of-Stake (PoS) platform. Prior to this switch, Ethereum consumed 83.89 TWh (TerraWatt Hours) of electricity per year. This is equivalent to the yearly electricity consumption in Finland.
However, the switch to the PoS algorithm has reduced the footprint by over 99.9%. Through the PoS consensus and sharding, Ethereum is expected to process anywhere from 20,000 to 100,000 transactions per second (TPS). This will be a huge increase compared to the current 20 – 30 TPS that the network generates.
After the price increase to $1,630, ETH has corrected to $1,547 as of November 2, 2022.
ETH to $2K? Ethereum Price Prediction
After the price increase in October, many are speculating that Ethereum can climb to the $2K mark by the end of the year.
This would be a 29% price increase from current levels, which is not an impossible expectation for one of the biggest crypto assets.
The technical indicators of Ethereum indicate that the token is currently placed at a ‘nuetral’ zone – meaning that the coin is not overbought or oversold. According to the 1-year price chart, Ethereum has made lower-highs and struggled to gain long-term momentum.
The bearish momentum is further demonstrated, as Ethereum has set a record for ETH short liquidations. After a successful trading month in October, news has emerged that USD-denominated short liquidations have hit an all-time high (ATH) for ETH.
On October 25th 2022, the markets experienced $275 million worth of ETH short positions, but that has dropped significantly in the week since, to around $120 million at the start of November.
Thus, the market uncertainty means that the token may face further volatility in the coming months.
CryptoNewsZ, a popular crypto price prediction algorithm, does not expect the token to reach the $2K mark by 2022. The website predicts a minimum price of $1,150 and a maximum price of $1,650 – equating to an average price of $1,400 by the end of 2022.
While the top cryptocurrencies are struggling to offer profits, cryptocurrency presales are emerging as a new diversification strategy. By buying the token at the first possible entry point, presale provides potentially high growth opportunities.
The sections below will discuss a popular new cryptocurrency built on the Ethereum network – IMPT.
IMPT – The Top Ethereum Alternative in 2022
IMPT is a new eco-friendly cryptocurrency which is smashing through its ongoing presale in 2022, selling out stage 1 after raising $11 million in only three weeks – four weeks ahead of schedule.
Built on the Ethereum blockchain, IMPT leverages blockchain technology in an effort to reduce carbon emissions from the atmosphere.
The sections below cover some of the important features and main advantages of the IMPT cryptocurrency project:
Offers Tokenized Carbon Credits
In an effort to promote sustainable investing opportunities, IMPT provides investors with Carbon Credits – tokenized assets which have been created on the blockchain. Minted as individual NFTs, Carbon Credits are permits calling for the removal of approximately 1 ton of CO2 emissions.
According to the IMPT whitepaper, the demand for Carbon Credits is expected to rise at least 20-fold by 2035. It is also estimated that the Carbon Credits market could eventually reach a market cap of $50 to $100 billion by 2030.
IMPT looks to tap into this space via blockchain protocols – which provides fairness and transparency – as users can view all transactions on a decentralized ledger.
Built on the Ethereum chain, the project will avoid the double-counting of unretired tokens, which could result in fraudulent transactions and scams.
The IMPT platform lets investors buy Carbon Credits with IMPT – the native cryptocurrency.
The IMPT Shopping Platform
Instead of providing a complex method of obtaining Carbon Credit NFTs, IMPT will let people access the assets by simply shopping with their favorite brands.
IMPT has partnered with thousands of businesses that are willing to play a part in offsetting the carbon footprint generated via harmful industrial activities.
Amazon, Microsoft, and River Island are among some of the global businesses that have partnered with IMPT. On IMPT’s shopping platform, these businesses will set aside a percentage of their sales margin as cashback for the shoppers to collect.
Therefore, buyers can buy products from their favorite brands, and receive cashback in the form of IMPT tokens. On the other hand, IMPT tokens can be directly purchased from the eco-friendly crypto platform’s website.
After accumulating a certain amount of tokens, one can trade IMPT for Carbon Credit NFTs. The NFTs can either be traded as a regular investment or be burnt by the holder.
Burning a Carbon Credit NFT will basically remove the emissions they represent from existence. By doing so, IMPT rewards members with a new NFT – which can be traded on secondary markets.
The newly claimed NFTs will give part ownership to the NFT creators and the Carbon Credit NFT burners. The cryptocurrency will also develop a social platform with a scoring system to determine an individual’s or business’s progress in reducing their carbon footprint.
IMPT Will Mitigate Risk
IMPT has taken several steps to ensure trust amongst users whilst maintaining sustainability on the blockchain for its new NFT project. The cryptocurrency has been KYC (Know Your Customer) verified on CoinSniper – a popular cryptocurrency voting platform where presale projects can be viewed and listed.
IMPT also ensures legitimacy through the Ethereum blockchain – which has decreased its C02 emissions by more than 99.99%.
The burning of Carbon Credit NFTs on the blockchain will be made public and recorded as an irreversible transaction on the ledger.
IMPT is Racing Through its Presale in a Bear Market
Conducting one of the best cryptocurrency presales in 2022, IMPT is rushing through its initial token offering. The project has a token supply of 3 billion – of which 60% will be distributed through three presale rounds.
Beginning on October 3rd 2022, the first IMPT presale round listed 20% of the available tokens (600 million). Available to purchase for just $0.018 per token, IMPT sold out 600 million tokens in just over 3 weeks – raising $10.8 million.
IMPT is now in its second presale round – which is offering 660 million tokens. Currently, stage 2 is offering IMPT at $0.023 per token – a 27% increase from the first round.
The second round is aiming to raise an additional $15.1 million, which will take the total funds raised to $25.9 million.
Currently, IMPT has raised nearly $12 million – selling out 650,000,000 tokens. After the second round is completed, IMPT’s final token presale stage will list 18% of the token supply at $0.280 – a further 21% price jump.
The successful presale performance is providing high-growth opportunities while the rest of the crypto assets have been in a bear market. For instance, Ethereum’s Year-to-Date (YTD) price change has been a 58% price decline. On the other hand, IMPT’s presale price will increase by over 55% throughout the 3 rounds.
With a growing market cap, investors can look to diversify their funds by investing in this new cryptocurrency presale. To stay updated with the token presale and the project, join the IMPT Telegram Channel.