ADVERTISEMENT

[email protected]

  • Submit Press Release
  • Submit Guest Post
  • Write for Kryptomoney.com
Latest Crypto News
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
  • News
    • Bitcoin News
    • Blockchain News
    • Cryptocurrency News
    • Ethereum News
    • Exchanges News
    • Regulations News
  • Price Analysis
    • Bitcoin (BTC) Analysis
    • Ether (ETH) Analysis
    • Ripple (XRP) Analysis
    • Litecoin (LTC) Analysis
    • Bitcoin Cash (BCH) Analysis
    • Binance Coin (BNB) Analysis
  • Industry
    • Events
    • Press Release
  • Start Here
  • Advertise
No Result
View All Result
Latest Crypto News
No Result
View All Result
Home News

Ethereum (ETH) Gripped in a Consolidation Bout, Then This Pivotal Metric Flashes Green

At the Time of This Report, Ethereum Is Exchanging Hands Under 2% at Its Recent Price of $144

Tomiwabold Olajide by Tomiwabold Olajide
April 5, 2020
in News
0
ETH
0
SHARES
83
VIEWS
Share on FacebookShare on Twitter

The second major crypto-asset, Ethereum with a total market cap of $15.9 billion and an estimated daily trading volume of $11.7 billion has been held in a consolidation stint ever since it recovered from its lows of $100.

In the last two months, two key levels have remained significant for the crypto asset which is the $125 and $145 key levels. The asset has maintained sideways trading, ranging between these two key levels.

The crypto asset’s trend has been on par with Bitcoin which has been stuck in a consolidation stint, trading sideways within the $6,000 region until when the bulls tested the $7,000 region, after a strong rejection, BTC returned to its $6,000 levels.

Unlike Bitcoin, ETH bulls are yet to break the $145 key resistance levels. At the time of this report, Ethereum is exchanging hands under 2% at its recent price of $144.

However, a different scenario may soon play out for Ethereum as a basic metric indicates an imminent rally soon.

ETH Exchange Balance Indicate an Imminent Uptrend

In December 2016, ETH’s price rose from $7.50, from which it shot up exponentially to reach a high of $375 in June of 2017 gaining more than 4500%. ETH later went to hit its all-time high of $1,402 in January 2018.

A key metric, the exchange balance has been found to have an inverse correlation with Ethereum price, with higher balances indicating bullishness.

Glassnode, a crypto firm that brings data intelligence to the blockchain and crypto space revealed from its recent stats that ETH exchange balance has hit a high last recorded since December 2016 when ETH had its exponential hike which shot it up to $375.

The platform indicated that since the end of 2019 till recent, ETH exchange balance had risen to 18,187,000, this value accounts for over 16% of ETH’s circulating supply.

While the market was much limited then and Ethereum is uncertain in seeing again after this increases to such an extent, the dramatic increase in ETH’s exchange balance may suggest that such an unprecedented surge may be inevitable in the coming months.

In the news recently, Coinbase announced a $1.1 million investment through its USDC Bootstrap Fund for Uniswap and PoolTogether projects, this it did to support the ETH DeFi ecosystem.

Image Credit: Glassnode, Shutterstock

Tags: ETH Price PredictionETH/USDEthereum (ETH)Ethereum Exchange Balance
Previous Post

Ahead of Bitcoin Halving Event, Here’s Why Crypto-Bulls Foresee $20,000 High as Positive Expectations Reach a Crescendo

Next Post

South Korea Launches Pilot Program to test Digital Currency

Next Post
South Korea

South Korea Launches Pilot Program to test Digital Currency

Recent Stories

Bitcoin

Bitcoin Falls Below $35k Despite the Unveiling of Biden’s $1.9 Trillion Stimulus

January 15, 2021
cryptocurrencies

The Impact Of Cryptocurrencies On The Global Marketplace

January 15, 2021
What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

What Will 2021 Hold for Bitcoin and Crypto? BTC Price Prediction and Events To Watch Out for by Mid-2021

January 14, 2021
Trading

PayPal Crypto Trading Volume Climbed $242 In One Day

January 14, 2021
Bitcoin

Government of Pakistani Province Announces Launch of Bitcoin Mining Farms

January 14, 2021
Ethereum

Google Data Reveals “Ethereum” Searches Hit All-Time High

January 14, 2021
BTC/USD

BTC Price Analysis: In a Return Rally BTC/USD Grinds Past $40,000 Amid Grayscale Bitcoin Purchase of $80M

January 14, 2021
Wunderbit Trading

Wunderbit Trading – Copy Trading Platform That Suits All 

January 14, 2021
bitcoin

Top 7 Open-source Code Bitcoin Wallets

January 14, 2021
Bitcoin

Bitcoin Institutional Investors Not Worried About Recent BTC Decline

January 13, 2021

Email Subscription

Pages

About Us

Contact Us

Disclaimer

Get Latest Cryptocurrency And Bitcoin News

Privacy Policy

Write for Kryptomoney.com

Category

Events

General

Interviews

News

Price Analysis

Press Release

Sponsored

Information

About Us

Submit Press Release

Submit Guest Post

Contact Us

Social Icons

[email protected]

©KryptoMoney 2019 | Southridge Internet Corp

No Result
View All Result
  • Resource List
  • News
  • Price Analysis
  • Events
  • Press Release
  • Sponsored

©KryptoMoney 2019 | Ess Commerce Private Limited

  • bitcoinBitcoin (BTC) $ 35,178.00 10.54%
  • ethereumEthereum (ETH) $ 1,131.61 6.84%
  • tetherTether (USDT) $ 1.00 0.14%
  • bitcoin-cashBitcoin Cash (BCH) $ 471.22 10.48%
  • binancecoinBinance Coin (BNB) $ 40.09 3.17%
Our websites require cookies enabled to provide you with an uninterrupted experience. Please continue without changing your setting to receive important notifications.I Agree