Although the eyes of the crypto world have been on the movements in the price of Bitcoin in recent days. The truth is that the world’s first crypto currency is not the only one going through a stellar moment in its price. Thus, the price of the second crypt-currency by market capitalization, Ethereum, is close to 500 dollars. As indicated by the trend in the ETH futures market.
Ethereum (ETH) breaks its two-year maximum, but also its
The Ethereum Price Rise
Not everything in the crypto market is about Bitcoin. In fact, one of the most vibrant markets today is the Ethereum market. Cryptcoin has experienced a real boom in its price during the last months, when it has more than doubled. It went from $207.40 on June 17 of this year to $441 per ETH at present.
There are two reasons for this increase in the price of Ethereum. The first one is the launch of the new version of the cryptomoney, ETH 2.0. This version improves the capacities that ETH already offers for the creation of intelligent contracts and decentralized applications. Taking a big step forward in the improvement of scalability in the crypt world.
While the second reason that explains the rising rally in the price of Ethereum, is the increase in the price of Bitcoin. Well, being the largest virtual currency in the world, with a market price higher than all other cryptosystems combined. The changes in the price of BTC usually impact the other cryptoactives. Creating a trend that is followed by the other market currencies.
Bitcoin (BTC) price starts the week off on the right foot
ETH at $500
The combination of these two factors explains the force with which the price of Ethereum has increased. Surpassing even the most optimistic predictions, it is now approaching its historic high in January 2018. When the currency created by Vitalik Buterin managed to surpass 1,200 dollars per ETH, before starting a fall in its price that led it to be around 200 dollars during the last years.
At least this is what the trend in the Ethereum futures market seems to indicate. It has increased its capitalization by 250% over the last three months, reaching $1.7 billion, according to Skew. A higher amount than the spot market of the cryptomoney, showing an optimistic attitude on the part of investors. Who would be expecting an increase in the price of Ethereum.
This opens the possibility that ETH could reach 500 dollars in the coming weeks. Breaking a new resistance in the middle of its biggest bullish rally in recent times. And also consolidating its position as the world’s second largest kryptonite. Which is why this possible future price of Ethereum becomes our Today’s Date here at Crypt Trend.