Forex and Crypto News

Ethereum Price Rises After Falling Below $600

12:55 25 December /2020

The price of Ethereum (ETH) began to rise at the end of this week, the coin returned to levels ​​above $600.

At the time of publication, the ETH/USD pair is trading at $628. The capitalization of the largest altcoin has grown to $70,337 billion.

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The day before, the price of Ethereum fell to a minimum of $551, and there were risks of a more significant rollback. However, support quickly increased, bringing the coin back to $600.

The fall in the price of ETH was the result of the dominance of an overall negative trend. The fall accelerated amid SEC allegations against Ripple and the XRP collapse, analysts say.

Ethereum was able to rebound quickly as a key support zone formed around $600. Altcoin holders at this stage are not interested in a more significant correction in the ETH price.

The IntoTheBlock team periodically draws attention to the increase in the number of Ethereum addresses with non-zero balance. Now this figure exceeds 50 million. In parallel, the activity of network users is growing.

The number of transactions made per day has grown to the highest values ​​not seen since January 2018, when the altcoin reached $1347.

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12:01 17 December /2018