Price Analysis of Ethereum (ETH) – Does The Road Ahead Look Bright For Ethereum?
- Ranked 2nd in the crypto market.
- Planning to switch over to the more advantageous Proof-Of-Stake system.
- Circulating supply is at 106,004,549 ETH.
Ethereum has been vastly popular with investors and institutional investors because of its unique features and ability to safeguard against fraud. A recent Twitter poll showed that people are favoring the coin over Bitcoin. The coin has plans to shift to a proof-of-stake system, which will further boost its price and strengthen its position in the crypto market.
Incepted in 2015, Ethereum is an open-sourced, decentralized blockchain platform featuring smart contracts. It is one of the most frequently traded coins.
Current Statistics:
As on May 10, 2019, at 09:14:01 UTC, the market price of Ethereum is 171.04 USD. Price was down by 0.59% from the last closing. Currently, the market cap for Ethereum is around USD 18.13 billion, 24 h volume is at USD 6.79 billion, circulating supply is at 106,004,549 ETH and ROI is at a magical 5938.48%. Ethereum is ranked number two in the crypto world. 24-hour High/Low was 172.47 USD / 167.25 USD. As on April 10, 2019, at 09:14:01UTC, the price was 179.27 USD. There was a downturn in price by 4.59 % when compared to last month. ETH had reached its peak on Jan 14, 2018, when the price was at 1377.72 USD, but then the market downturn in 2018 made its price slide down considerably. Now, the price of the coin is slowly regaining its past glory.
Price Prediction:
Ethereum has been trying to increase its global presence and popularity, is fast emerging as a global cryptocurrency. A recent Twitter poll, conducted by Su Zhu, founder of Three Arrows Capital firm, is a valid proof, where people have favored Ethereum over Bitcoin Cash. The team’s developers are working on providing better upgrades to the platform which is expected to be completed by 2021. An a lot of institutional investors also favor the platform, because of its unique features and its ability to safeguard against fraud. Ethereum is expected soon to switch over to long-in-development alternative system called proof-of-stake (PoS) from the present proof-of-work mining, but the economics is still being worked out. These positive developments are reinstalling investor’s trust in the coin.
Analysts expect a bullish trend for the coin. Accordingly to Ethereum Forecast, to be between 250 USD-350 USD by the year-end. Ethereum is a currency for the long term. Though there were hiccups in the past because of market downturns, it is now on the path to recovery.
