Price Analysis

A Possible Green Signal To Ethereum (ETH) From CFTC; Value May See Historic 1400 USD Mark

  • Ethereum (ETH) is traded at 178.21 USD with a market cap of 18,883,659,020 USD.
  • CFTC has accepted the possibility of accepting Ethereum on commodity trading.
  • The Long term outlook sees the ETH value on $1400.

Ethereum (ETH) is a digital currency platform based on blockchain technology. It deals with smart contracts, digital currency and dApps (Distributed Applications). The Ethereum network also deals with ETH tokens. The creators of the Ethereum network are Vitalik Buterin, Gavin Wood, and Joseph Lubin.

Current Statistics-

Ethereum Price Chart

  • Ethereum (ETH) is the second largest crypto coin in the market.
  • The ROI of Ethereum stands at whopping 6195.91%.
  • The total number of ETH tokens in circulation stands at 105,964,465.
  • The current market cap as on 7th May at 04:54 UTC stands at 18,883,659,020 USD.
  • The value of each coin stands at 178.21 USD and 0.03007280 BTC.
  • The 24h volume at the same UTC stands at 8,709,532,899 USD.

Comparison-

Ethereum coin was one of the worst hit cryptocurrencies by the crypto winter. It started the year with 133 USD level and it has been through many price variations throughout the year until May. However, the April 1st market boom has given huge increment to the coin’s value. It gained 20 USD over just 3 days. The market cap on 7th April was 17,684,826,420 USD. And the value of each coin stood at 167.54 USD. The current market cap is 6.77% more than the market cap of 7th April and the value of the individual coin has increased by 6.36% in the last 30 days.

Prediction-

Recently an officer from the Commodities Futures Trading Commission (CFTC) has given a green signal on the possibility of the addition of Ethereum Futures in the exchange. This has given a huge boost to the value and goodwill of the ETH token. The uncertainty tag on cryptocurrency will be waived off if the CFTC allows joining of ETH on the exchange. These factors are in play now for good growth of ETH token. We predict the coin’s value to raise a further 182 USD level before finding resistance. By the end of 2019, the value should go past 220 USD. The medium term, as well as the long term outlook, is absolutely bullish for Ethereum. By the end of 2020, the Ethereum token will be as valuable as some IT majors’ stocks. The value may reach the previous high of 1400 USD.

Conclusion-

As the value is on the rise, it is a perfect time for buying the tokens. By holding the ETH tokens for the long term will enable the investors to be a part of the historic rise of the crypto market.

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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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