Ethereum is among the biggest and the most dominating names when it comes to the cryptocurrency markets. The currency currently occupies the second position in the list of top cryptocurrencies by market cap. Ethereum’s market is second to only that of Bitcoin – and the currency has earned millions of backers from around the planet over the years. Ethereum’s price continues to surge with this recent bullish momentum helping the currency get stable beyond the $500 mark.
Ethereum’s price, at one point in time, had reached a high of $1,400. However, the currency was since caught in a major downtrend – which brought its price down to a low of sub-$400 over the first quarter of 2018. April has been an optimistic time for Ethereum traders as the currency is now showing signs of life. Let us take a closer look at the recent price performance of ETH – as well as a look at where the currency is heading to next.
Ethereum’s price over the past 24 hours has finally crossed the $600 price point. This was a much awaited landmark – and the currency’s price surge continues. Over the past 24 hours, Ethereum’s price rose from $564 to $611. The highest point of the day came when Ethereum’s price hit $618. The currency’s market cap went up from $55.8 Billion to $60.5 Billion over the course of the day.
A week-long look at Ethereum’s price performance indicates that the currency started off the week at a price of $499 and closed the week off at $611. Ethereum’s price surge has been monumental – as indicated by the market cap. Ethereum’s market cap at the beginning of the week was $49.4 Billion – and it closed the week off at $60.5 Billion – a growth of $10 Billion over the week!
Market experts claim that this price surge will continue. There may be a small retracement at around $630-$635 price point – but that should not stop the growth rally. For long-term investors of Ethereum, the next major target for the currency should ideally be $750 over the next few weeks!
Ethereum is among the most credible names in the markets. The platform has been used to create thousands of smart contracts and decentralized apps. The charismatic co-founder Vitalik Buterin has been among the most vocal names in the cryptocurrency markets and continues to lead from the front.
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