Ethereum Gets Through $300 Resistance. Ethereum has been aiming to try and get back to the $400 range that it almost reached twice so far this year. The currency has gone over the $300 mark again as it managed to break through the resistance bands it had been competing with. The currency is especially becoming more popular in the United States and South Korea where the currency has been in high demand in recent time.
The current value of Ethereum is around $310. This marks an increase over what it was like a few weeks earlier as it struggled to get over the $300 mark. The current trend line is also positive as Ethereum has been rising in value regularly. This comes as the currency continues to be a prominent investment option for all to look into.
The value of the currency had been relatively volatile in recent time and even went under the $290 mark for a brief moment. A key point is that the volume for trading has been solid in recent time. The currency has been growing in prominent among many traders, particularly those in American and Korean markets.
The trading volume has gotten to more than $400 million in recent time. This is one of the highest volumes among cryptocurrencies other than the bitcoin. It is established that around $500,000 in trading volume can take place in just a matter of hours during a typical trading day.
The currency is also growing in popularity in not only the United States but also South Korea. The USD and KRW relations with Ethereum have been improving as the currency continues to be valuable and essential to investors. Close to a quarter of the trading volume for Ethereum comes from USD and KRW trades. These include trades that are held through Bitfinex and Bithumb.
The market cap for Ethereum continues to rise as well. The current cap is listed at $30 billion. It is still less than half of the $75 billion cap for the bitcoin but it still marks for a total higher than the $10 billion that Ripple holds.
A large number of people who are trading the currency are ones who have exchanged the bitcoin for Ethereum. This marks a significant development as it suggests that more exchanges are looking to trade individual currencies with one another. This is to create a sense of competition in the field.
There is one significant concern though in that Ethereum is at risk of going through a substantial correction at some point in the future. This would be on par with what normally takes place with the currency but it is vital to take a look at what is going on with the currency and how it will develop over a period of time.
The potential for Ethereum to keep going up in value is important to watch for. Investors are looking at how well the currency is changing in value and what developments may come about in terms of how people will spend on it as the currency continues to develop and evolve.Advertisement