Analytics / Forex and Crypto News
Ethereum crossed the $250 milestone on February 12th. At the time of publication, the price of Ethereum has reached $255,77.
The growth pushed Ethereum's market capitalization to $27.24 billion, which is 8.92% of the total cryptocurrency market capitalization.
The largest increase in the price of Ethereum was recorded in the last two days. If you look at the ETH/USD chart, you will see that it is almost vertical. In two days, the price of Ethereum rose from $218 to $256.
According to analysts, Ethereum has the potential to grow. MACD technical indicator became bullish in January of this year. It turned green and forms another green candle for the current month.
One analyst suggested that as soon as level $220 becomes a support level for Ethereum, we can expect a further 50% increase. Ethereum will aim at level 360.
In addition to technical data, Ethereum is also supported by fundamental data. Per previous reports from NewsBTC, JP Morgan & Chase is purportedly looking to merge its blockchain unit called Quorum with ConsenSys, the New York-based Ethereum-centric development studio that is behind projects like Infura and MetaMask.
It is also worth paying attention to decentralized finance based on Ethereum (DeFi), the indicator of which reached $1 billion, which, according to analysts, proves that financial services on the blockchain have become the main example of the use of Ethereum.
During November, ICO-projects sold 416K ETH. This is the largest figure since the summer, reports Trustnodes.
According to Santiment, in August, ICO startups sold only 100,000 ETH. In September, sales of digital currency increased significantly, reaching 300 thousand ETH. In Nov