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Most headlines this year have been about Bitcoin and Dogecoin, but now it might be Ethereum’s turn. It has gone over $3,000 for the first time. One year ago each token was worth $211.
Ethereum is a cryptocurrency that has been getting a lot of attention lately. The price for ethereum now exceeds $3,500 and the market cap is over $7.6 billion. This makes one 27-year-old founder who created Ethereum in 2013 worth more than a billionaire according to Forbes!
The Ethereum blockchain is a network of computers that records information without a central computer. The creator of the network was 19 years old and made it in 2013. It can show people’s holdings if you have their wallet address, and these amounts are worth over $1 billion right now.
The cryptocurrency has a market cap of over $400 billion. It’s been growing rapidly over the past year, mostly because people are excited for its relaunch as Ethereum 2.0. This latest rally is tied to news last week that the European Investment Bank issued bonds using Ethereum blockchain. DogeCoin also hit a new high of nearly 70 cents.
Bitcoin is a type of cryptocurrency with one token costing $57,000. It’s mostly traded as an asset that people can buy or sell. The most widely used cryptocurrency is Ethereum which is built on the ethereum blockchain and costs Ether tokens. Underneath these two are tens of thousands of altcoins which are similar to penny stocks. NFT are tokens that are sold using Ether or BItcoin. NFT stands for Non Fungable Tokens.
During the year 2020, Bitcoin and Ethereum became a lot more valuable. They grew during this time for many reasons, including big tech companies starting to use them, like IBM and Microsoft.Ethereum’s price has gone up because Ethereum 2.0 will change the way tokens are made. It will be more efficient and good for everyone, especially traders and the planet.
This is called cryptocurrency. People trade it on the internet. It can be a risky investment, but it has grown in value over time.
Ethereum Classic has done really well. It has made more gains than any other statistic. But it is not impossible that the price will change and go down soon.
The Ethereum Classic price has gone up a lot. You can put it into perspective by looking at some of the stats at this time.
The Ethereum Classic market has a lot of good numbers – things like how high it is trading, the percentage change. When it reached 2% below the 361.8% Fibonacci extension of the 2018 bear market, it had a chance to correct its price by going up in value and not down.
Support is hard to find when prices go up. But speculators can find a bid at the 38.2% retracement which is $102.65The retracement level came from the rally that started when a symmetrical triangle broke out, in April. It is strong, because it is right above $100.00. This would be a 25% decline in the price from now and 35% from the high of this day.
If a person fails at $100, the outlook for Ethereum Classic can be negative. It might go down to $85.