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Price Analysis

Ethereum (ETH) Price Analysis: Hacker Transferred $7 Million Worth of ETH to Single Wallet; Investors Unaffected

  • After the Cryptopia theft, the hacker transferred ETH worth of $7 million to a single wallet.
  • The medium-term outlook is bullish, the target price at $1000.

One major factor which has been putting the whole cryptocurrency sector is the security of coins. There have been numerous instances of cryptocurrency theft in the recent past. The recent theft in the New Zealand crypto exchange, Cryptopia has not yet forgotten. This theft has wiped out the entire Ethereum wallets. Recently, the hacker has started transferring the hacked funds to unknown wallets. As per Whale Alert, a Twitter account which tracks big transactions, in just 15 minutes around 29770.7290449 ETH (over $7 million) were transferred to the unknown destination account. This transfer was not limited to Ethereum only; other ERC20 tokens were also transferred. However, the market probably has overcome the loss. There was no major impact of this on the traders. The predicted value of the Ethereum (ETH) coin rests at 1000 USD. We should now analyze the current figures of Ethereum to understand its future journey.

Current ETH Price Statistics-

Ethereum chart

  • Ethereum (ETH) is the second largest coin in the global crypto market.
  • The ROI (Return on Investment) stands at more than 9000%.
  • A total of 106,166,621 ETH coins are in current circulation.
  • The current market cap as on 22nd May at 01:24 UTC stands at 27,252,746,491 USD.
  • The value of each ETH coin stands at 257.16 USD and 0.03215803 BTC.
  • The current 24h volume stands at 11,561,756,843 USD.

ETH Price Comparison-

The value of ETH with respect to USD has been growing at a stable pace since the starting of the year.  The highest point of the coin was 273 USD on 16th May. Prior to this, the coin has not shown any abrupt growth or fall in this four and a half month. The market cap on 22nd April was 18,087,066,740 USD. And the value of each ETH coin was 171.01 USD and 0.03228487 BTC. The current market cap and the value of each ETH coin are respectively 50.67% and 50.37% more than the figures for last month.

ETH Price Prediction-

Looking at the current trend, we predict the coin to have a bullish path all the way to 2020. The next resistance will be there at 280 USD. The medium-term outlook is also bullish. By the end of 2019, the coin will be there around 1000 USD.

Conclusion-

Jumping into the Ethereum’s growth story now would be a good decision. Long-term holding will give a dividend of at least 4 times the current investment value.

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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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