Vitalik Buterin introduced Ethereum, and since its inception, it has been gaining wide attention from all crypto enthusiasts. Ethereum enables smart contracts, and dozens of other digital currencies rely on its blockchain. Ethereum has mainly two functions- it helps to keep things running very smoothly by compensating the mining nodes, and it also pays people under its smart contract platforms.
Current status of ETH
ETH is currently getting traded at USD 168.77 (UTC time 04:03). With a market cap of USD 17,848,813,801 and a circulating supply of 105,759,146 ETH, it is the second largest cryptocurrency in the world.
Price analysis of ETH
The above chart shows that at present ETH is getting traded at 169.02 USD or 0.03214141 BTC (UTC time 04:06). Its current market cap is worth of 17,875,273,521 USD with a 24h volume of 6,148,808,902 USD. The same chart shows that approx. One month earlier, ETH had a trading value of 139.67 USD. So, within this approx. One month, the value of ETH has been raised by 21.01%, and its earlier price point of 137.86 USD has provided a good support resistance to its bull trend.
Future price predictions of ETH
ETH has got the largest developer community, and its proof of concept is very popular among institutional investors. According to a major crypto enthusiast, it can even touch a height of 500 USD at this year only, and BTC can lose 50% of its crypto share to ETH. In the crypto market, BTC is regarded as the king while ETH is the queen. BTC has very limited circulating supply while ETH has comparatively greater circulating supply and it also provides more security to the users than BTC. There are numerous developments planned in ETH’s roadmap, and these are going to be launched in this year only. If everything goes well, we assume that ETH can even spike up to $1400 by the end of this year.
ETH is soon going to come up with many more developments. It already has the largest community, and all the investors have high hopes from this crypto as well. As the current market is really volatile, its very unpredictable to say if investing in this crypto can be a greater gain or loss. But, it will be worth investing by the end of 2019 as the market will be very much stable than today.