Where Is Ethereum Headed Today?
Scroll DownFor the past few days, Ethereum has been on a downward trend. Yesterday, it hit $4,100 for one Ether. This led traders to speculate that this was the end of Ethereum's uptrend and that there would be a reversal soon. However, today has seen significant value gains, with ETH rebounding to $5,000 USD per token at press time. Early indications are that investors believe the market will continue its upward trajectory, which means we may not see an immediate turnaround in price but instead see more volatility before it stabilizes once again. Two major factors could be facilitating this rebound. The first is that Ethereum has recently seen significant adoption in the form of Enterprise Ethereum Alliance (EEA). Recently, MasterCard, Cisco Systems Inc., Bancor, and Scotiabank joined other large companies to help develop enterprise-grade applications on top of Ethereum. The EEA is made up of companies that can provide valuable use cases for the currency in addition to improving upon Ethereum's blockchain. The second factor is the hype around the upcoming EOS token. Since many investors are already familiar with platforms like TRON and ICON, they may feel more inclined to purchase crypto tokens with a proven track record in place. Even though EOS is still in development, its hype could have led to increased purchases of Ether yesterday. If Ethereum manages to maintain its upward momentum, it could once again see a price increase this year. If not, many other projects are still working hard on building use cases for their tokens that will further decentralize the web. In conclusion, it is important to have in place an articulate and understanding of the changes which are present in the market. The specific ideas which have been shared are very strategic and analytic while trying to come up with an articulate understanding on how the changes and the ideologies which have been shared are critical in the market. Proper and articulate positioning are some of the primary elements and entities which are associated with the condition. Hence, the trend in Ethereum is very critical while understanding the crypto market in general.
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