Price Analysis

Ethereum Price Analysis: Ethereum Start-ups Team to Give Bank Account-like Protection to ETH Coins

  • Two Ethereum start-ups join hands to develop bank account-like protection for ETH coins.
  • The bullish medium-term places the coin at $500 target.

Cryptocurrencies have traveled a long distance since the inception in the effort to replace the conventional banking and financial system. But the one thing that works as an obstacle is the security of the value one individual holds. The multiple cases of coin theft and server hacking are raising doubts in the minds of many potential investors. To mitigate this fear, two Ethereum start-ups have partnered to help Ethereum in bringing bank account-like protection to users. Insurance cooperative Nexus Mutual and wallet provider Argent now plans to merge smart contracts and insurance to give ultimate protection to the users against theft and hacking. Argent co-founder Itamar Lesuisse said, “We are thinking about not just crypto users but also new users – and so the end goal is to repeat what they get from their bank.” The medium-term outlook is bullish for Ethereum. By the end of this year, Ethereum may touch the value around 500 USD. Let us look at the current status of the coin.

Ethereum Price Statistics- 

Ethereum Price Chart - 7 June

Ethereum (ETH)07th June 02:53 UTC
Rank2nd
ROI (Return On Investment)8,671.28%
Coin Circulation106,385,243 ETH
Market Cap26,456,753,631 USD
Value in USD246.48 USD
Value in BTC0.03186118 BTC
24h Volume8,431,151,733 USD

Ethereum Price Comparison-

Right from the starting of this year, the second largest crypto coin has been showing huge price variations. On the 6th January, the coin started falling and stopped on 07th February after losing 33.62% of its value. But at the initial stage of March, the coin gained 44.75% over 35 days and reached 180 USD on 08th April. The Market Cap on 07th May was 18,879,268,559 USD, and the value of each ETH was 168.06 USD. The current Market Cap and the value of each coin are respectively 40.13% and 46.66% more than the figures for last month.

Ethereum Price Prediction-

We predict a bullish medium-term for Ethereum (ETH). By the end of 2019, the coin is likely to be traded around 480 USD to 500 USD price level. But the investors need to be cautious of the steep and sudden price swings that may happen.

Conclusion-

Buying fresh coins is advised if the target is a long-term holding. Speculators may face trouble owing to the sudden price ups and downs.

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Ruti Vora

Ruti regularly contributes in-depth news articles for leading cryptocurrencies. She contributes technical chart-based price updates and analysis pieces on world's leading digital currencies. She holds graduate degree in journalism.

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