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Price Analysis

It’s the Win of The Decentralized Platform Aka Ethereum (ETH) As Banks Have Already Started Relying On Smart Contracts

Ethereum is a decentralized and a distributed public chain network. Ethereum gives access to developers to build and deploy various decentralized applications with the help of its platform. Ethereum is also used to build a Decentralized Autonomous Organisation. Many other cryptocurrencies use this blockchain of ETH to run themselves. It helps to develop a smart contract on the basis of some certain conditions which cannot be altered on an agreement of the parties involved in it.

Current status of ETH:

Current trading value: 157.18 USD

Market Rank: 2

Circulating supply: 105,871,510 ETH

Market cap: 16,640,426,001 USD

Price analysis of ETH:

EthereumThe above chart makes it evident enough to understand that at present ETH is getting traded at 157.27 USD or 0.03003313 BTC (UTC time 09:33). Its current market cap is worth of 16,650,799,530 USD with a 24h volume of 6,453,311,730 USD. The same chart also displays that earlier this month; ETH had a trading value of 150.64 USD. So, within this approx. 1 month, ETH’s value spiked up by 4.40% with 140.04 USD as a good support resistance level.

Future price predictions of ETH:

Currently, Societe Generale has generated $112 million from smart contracts by using the blockchain technology of ETH. Although, banks are defending themselves by saying that they are bound to use a permissioned version of this technology as they have a compliance issue with their customers and also possess competitive interests in retaining their customers’ privacy. But, the 19th largest bank in the world did not step back to experiment with the public model of ETH and indeed earned lump sum profits. Crypto analysts and enthusiasts are saying that this is indeed a big win of ETH and it can be one of the significant reasons for soaring up of the values of the same in the future.

With such a great achievement and increase of smart contracts all around the world, we firmly believe that ETH is indeed the queen of cryptocurrencies and it is proving itself really efficient and highly effective day by day. We assume its value to be around $1400 by the end of this year.

Conclusion:

The price of ETH will be mostly towards the bullish trend until, the intense, volatile market ravages it up. But, the potentials of ETH are really high enough and investing in this crypto can be a very good idea.

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Scott Cook

Scott Cook got into crypto world since 2010. He has worked as a news writer for three years in some of the foremost publications. He recently joined our team as a crypto news writer. He regularly contributes latest happenings of crypto industry. In addition to that, he is very good at technical analysis.

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