Factors Behind the Rise of Ethereum
Ethereum's value has appreciated by over 500 percent since the beginning of this year. Here are some of the possible reasons... Ethereum, the crypto-token of the Ethereum platform has become increasingly popular amongst cryptocurrency enthusiasts over the past few weeks. Ethereum’s value has appreciated by nearly 500 percent since the beginning of 2015. In January, one ethereum was roughly worth 0.00212BTC. Almost a month and a half down the line, the value stands at around 0.01101 BTC. Ethereum is notably one of the valuable platforms. With the global FinTech industry shifting towards....
Related News
Ethereum has struggled alongside Bitcoin through the current bear market climate but this has not stopped bullish predictions for the digital asset. The most recent bullish prediction comes from British multinational bank Standard Chartered which believes that the Ethereum price could climb higher than $8,000. Factors That Could Trigger The Rise Geoff Kendrick, Head of Digital Assets Research at Standard Chartered Bank has revealed his forecast for the Ethereum price in a research note. According to the researcher, he sees big things in the future of the digital asset which could climb....
Ethereum extended its rise above the $1,150 and $1,200 resistance levels against the US Dollar. ETH price is currently consolidating gains and it could rise further towards $1,280. Ethereum is following a bullish path above the $1,120 and $1,150 resistance levels. The price is now trading above $1,200 and the 100 hourly simple moving average. […]
The Ethereum open interest has been on an upward trajectory that has culminated in it crossing the $5.2 billion mark. This surge is important to Ethereum’s native token ETH in a number of ways as it could point to how investors are viewing the cryptocurrency at this point. Ethereum Open Interest Sees Rapid Rise Data from Coinglass shows that the Ethereum open interest has risen rapidly in recent times. Over the last week, the open interest has grown, eventually crossing $5.2 billion at a time when the crypto market continues to struggle to loosen the grip of bears. Related Reading:....
Paying gas fees is a crucial component of exchanging crypto and mining digital assets yet remains a significant cost barrier for transactions. A prime example is the major cryptocurrency Ethereum, whose network incurs inherently high gas fees due to its high volume of transactions and token evaluation. The term gas is used to define the amount of Ether (ETH) needed to perform a specific transaction allowing users to interact with the network. These fees are used to compensate miners for the energy required to verify a transaction. The gas price is highly volatile and dependent on a....
Yes, the weakening yuan is responsible for the rise in the price of Bitcoin. But what about some other efforts that have been playing complementary roles to push the top digital currency's price to a level that is far higher than what we have experienced in previous years? And with the look of things, the reality is: these contributing factors are the mainstay of what is keeping the price of Bitcoin stable and unwilling to give in to any form of reversal. Bitcoin’s price has gone up $100 in a month from about $605 as at September, 30 to up to $705 by October 28 - as at the time of this....