Ethereum has been a truly revolutionary technology. Finding a use case across fields ranging from finance to deep space exploration – the platform has gained millions of investors from around the world who have complete faith on Ethereum as well as the ETH cryptocurrency. Ethereum’s prices were on a surge in early 2018 – but have since been in a downtrend until last week when the trend reversed.
Ethereum has been on the path to recovery as an uptrend has helped the currency gain a couple of hundred dollars. However, it still has a long way to go to make a full recovery. Ethereum price peaked in January when it crossed $1400. However, over the next quarter, Ethereum’s price fell below $400 – a drastic fall. However, the situation is significantly better now. Let us take a closer look at Ethereum’s price performance over the past 24 hours and the past week – as well as a look at where the currency may be heading next.
Over the past 24 hours, Ethereum’s price rose by 6.4%. The price went from $530 to $565 over the course of the day – with the highest point of the day coming in at $583 mark. Ethereum’s market cap too, increased, as it went from $52.49 to $55.93 Billion, growing by almost $3.5 Billion over the day.
When you look at Ethereum’s prices over the past week, the currency has shown a tremendous growth. Ethereum’s price went from $485 to $565 over the week – with the highest point of the week coming in at $583. Over the week, the market cap of Ethereum surged from $47.8 Billion to $55.93 Billion – a significant rise!
Market experts claim that there’s more in store for Ethereum as the currency is expected to rise beyond $600 levels very soon. Ethereum’s price is expected to touch up to $630 before facing a proper resistance – arriving at which point, we expect a small retracement. However – the growth rally is expected to continue over the next week.
Ethereum, with its support for smart contracts and decentralized apps has attracted millions of users towards the platform. It has found use in various organizations ranging from small fisheries to something as big as NASA! With ETH prices on a rise – it appears that Ethereum is all set for an incredible growth in 2018.
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