Ethereum Considered as Hot Investment To Reach New Levels
With recent gains in different cryptocurrencies, it’s time to focus on those most likely to pay off. According to Forbes, the cryptocurrency market capitalization exceeded $2 trillion again in mid-August, the first time since the collapse nearly three months before.
The bitcoin ‘whales’ are pouring money back into crypto markets. Whales are big bitcoin holders who also invest in other cryptocurrencies. On Thursday, ETH dropped 1.08 percent. Wednesday’s gain of 11.64 percent brought Ethereum to $3,787.97. Ethereum rose to an intraday high of $3,838.28 early in the day before reversing.
Amid a bearish market, Ethereum dropped to a mid-morning intraday low of $3,722.65. Surpassing the $3,528 key support barrier, Ethereum rose to $3,834.98 early in the afternoon. Low trading volume means holders are hoarding ether and buying more. According to CoinMarketCap, the Ethereum price today is $3,930.90 USD with a 24-hour trading volume of $18,507,405,192 USD. Also, Ethereum is up 1.67% in the last 24 hours.
Nick Agar, CEO of AXIA Coin:
“Ether is on track to potentially breach the $4,000 resistance level, provided the obvious stack up continues.”
IntoTheBlock’s Hodlers indicator shows addresses holding $ETH for over a year, hitting new highs. Moreover, the London Hard Fork’s effects on Ethereum are significant, notably the doubling of block size and the EIP-1559 procedures that better control ‘gas’ costs.
These occurred in early August, and reduced ether supply as demand for Ethereum increased. Longer-term, Ethereum has a very positive attitude. A Forbes panel predicts ether will reach $17,810 by 2025 and $71,763 by 2030, with 68% of the board predicting ether would ultimately overtake bitcoin.
Advertise on Google
Google’s new policy still requires companies to be registered with FinCEN as money services businesses or federal or state banking entities.
But enabling crypto businesses to advertise on Google’s site can only be viewed as a victory for the cryptocurrency industry, experts say.
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Text source: TheNewsCrypto – Blockchain & Cryptocurrency News M
