Ethereum Price Analysis: Ethereum Network Caters Majority of DeFi Creators
- Ethereum Blockchain consists of a majority of the Decentralized Finance Application (DeFi) creators: Binance report.
- The 2019 target remains at $500.
As the world of Cryptocurrencies moves forward, the competition gets bigger. The coin which can adapt and move partnerships can only sustain. On this note, every major coin platform is trying their best to list their coin’s name on major MNCs. Ethereum (ETH) is also on the list. As per a recent research report by Binance, Ethereum Blockchain consists of a majority of the Decentralized Finance Application (DeFi) creators. As per the report, DeFi is “an ecosystem comprised of applications built on decentralized networks, permissionless blockchains, and peer-to-peer protocols for the facilitation of lending/borrowing or trading with financial instruments.” These little developments are the ones that count for sustaining a bullish outlook for Ethereum (ETH). By the end of 2019, the coin is likely to be around 500 USD. We should now analyze the current status of the coin.
Ethereum Price Statistics-
| Ethereum (ETH) | 08th June 02:59 UTC |
| Rank | 2nd |
| ROI (Return On Investment) | 8,720.27% |
| Coin Circulation | 106,398,870 ETH |
| Market Cap | 26,726,419,371 USD |
| Value in USD | 248.91 USD |
| Value in BTC | 0.03131904 BTC |
| 24h Volume | 8,212,125,569 USD |
Ethereum Price Comparison-
Barring a few instances of steep rise and fall, the second largest coin has performed with good stability until this part of the year. The first huge growth was noticed on 23rd February when the coin gained 52.22% over 16 days, compared with the price (USD) 102.86 on 07th February. And after gaining a small amount in the April boom, from 8th April, the coin started losing. It lost around 14% in 21 days. The Market Cap on 08th May was 17,949,714,074 USD. The value of each ETH coin was 169.73 USD. The current Market Cap and the value of each coin are respectively 48.89% and 46.65% more than the values of last month.
Ethereum Price Prediction-
As mentioned earlier, a bullish medium-term is likely for Ethereum trend in the crypto market. By the end of 2019, we make an ETH Prediction that the coin is likely to be around 480 USD to 500 USD. But the investors need to keep patience at the times of steep rise and fall in the price.
Conclusion-
As the price variation will be on the rise, long-term holding is the only way out. Existing holders should at least aim at holding the coins until the end of this year.
