Analytics / Forex and Crypto News
The second most authoritative coin Ethereum (ETH) also aggressively adds in price in the middle of this week. The cryptocurrency reached the $350 mark but couldn’t overcome it, and it's market capitalization has reached $37 billion. On Wednesday evening the daily coin trading volume exceeded $14.524 billion.
The last time at this level Ethereum was traded in early August last year, after which the cryptocurrency began to fall, ending 2018 year near $84 area. Then, many analysts urged traders to get rid of the Ethereum as soon as possible and predicted the collapse of this cryptocurrency.
Representatives of ETH developers stated that the true value of cryptocurrency lies not in its value, but in technology. The climbing of the coin began in the winter of the current year. By the end of February, Ethereum was trading at $137.
As a result of the so-called April rally, the rate of the second cryptocurrency reached $178, and by the end of June, the ETH breaks through the $300 mark.
Cryptotrader Benjamin Blantz tweeted a post in which he announced a jump of Ethereum to $900 in the medium term. In his opinion, the $302 mark was the point of resistance for the coin, overcoming which ETH will enter a new phase of growth. The result of this should be the taking of a psychological milestone of $400 and the further continuation of the upward dynamics.
Many Twitter users share Blant's point of view, but believe that reaching the $900 phase can take a longer time.
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