Ethereum (CURRENCY:ETH) traded 3.9% higher against the US dollar during the 1-day period ending at 19:00 PM E.T. on June 12th. Ethereum has a market capitalization of $27.29 billion and $8.40 billion worth of Ethereum was traded on exchanges in the last day. One Ethereum coin can currently be purchased for $256.35 or 0.03150795 BTC on cryptocurrency exchanges including Exrates, IDAX, MBAex and Cobinhood. Over the last week, Ethereum has traded up 3.9% against the US dollar.
Here is how similar cryptocurrencies have performed over the last day:
- Ethereum Classic (ETC) traded up 3.7% against the dollar and now trades at $8.55 or 0.00105399 BTC.
- Ether Zero (ETZ) traded 6.9% higher against the dollar and now trades at $0.25 or 0.00003053 BTC.
- Bitcoiin (B2G) traded up 10.7% against the dollar and now trades at $0.27 or 0.00003368 BTC.
- Callisto Network (CLO) traded 2.2% higher against the dollar and now trades at $0.0030 or 0.00000037 BTC.
- Musicoin (MUSIC) traded up 6% against the dollar and now trades at $0.0009 or 0.00000011 BTC.
- Bowhead (AHT) traded flat against the dollar and now trades at $0.0244 or 0.00000377 BTC.
- Elementrem (ELE) traded flat against the dollar and now trades at $0.0047 or 0.00000120 BTC.
- Ellaism (ELLA) traded up 23.3% against the dollar and now trades at $0.0062 or 0.00000077 BTC.
- DaxxCoin (DAXX) traded flat against the dollar and now trades at $0.0001 or 0.00000003 BTC.
- Akroma (AKA) traded 6.4% lower against the dollar and now trades at $0.0018 or 0.00000023 BTC.
Ethereum is a proof-of-work (PoW) coin that uses the Ethash hashing algorithm. Its launch date was July 30th, 2015. Ethereum’s total supply is 106,464,795 coins. Ethereum’s official message board is forum.ethereum.org. The Reddit community for Ethereum is /r/ethereum and the currency’s Github account can be viewed here. Ethereum’s official website is www.ethereum.org. Ethereum’s official Twitter account is @ethereumproject and its Facebook page is accessible here.
According to CryptoCompare, “Sandwich complexity model: the bottom level architecture of Ethereum should be as simple as possible, and the interfaces to Ethereum (including high level programming languages for developers and the user interface for users) should be as easy to understand as possible. Where complexity is inevitable, it should be pushed into the “middle layers” of the protocol, that are not part of the core consensus but are also not seen by end users – high-level-language compilers, argument serialization and deserialization scripts, storage data structure models, the leveldb storage interface and the wire protocol, etc. However, this preference is not absolute. Freedom: users should not be restricted in what they use the Ethereum protocol for, and we should not attempt to preferentially favor or disfavor certain kinds of Ethereum contracts or transactions based on the nature of their purpose. This is similar to the guiding principle behind the concept of “net neutrality”. One example of this principle not being followed is the situation in the Bitcoin transaction protocol where use of the blockchain for “off-label” purposes (eg. data storage, meta-protocols) is discouraged, and in some cases explicit quasi-protocol changes (eg. OP_RETURN restriction to 40 bytes) are made to attempt to attack applications using the blockchain in “unauthorized” ways. In Ethereum, we instead strongly favor the approach of setting up transaction fees in such a way as to be roughly incentive-compatible, such that users that use the blockchain in bloat-producing ways internalize the cost of their activities (ie. Pigovian taxation). Generalization: protocol features and opcodes in Ethereum should embody maximally low-level concepts, so that they can be combined in arbitrary ways including ways that may not seem useful today but which may become useful later, and so that a bundle of low-level concepts can be made more efficient by stripping out some of its functionality when it is not necessary. An example of this principle being followed is our choice of a LOG opcode as a way of feeding information to (particularly light client) dapps, as opposed to simply logging all transactions and messages as was internally suggested earlier – the concept of “message” is really the agglomeration of multiple concepts, including “function call” and “event interesting to outside watchers”, and it is worth separating the two. Have No Features: as a corollary to generalization, the dev team often refuses to build in even very common high-level use cases as intrinsic parts of the protocol, with the understanding that if people really want to do it they can always create a sub-protocol (eg. ether-backed subcurrency, bitcoin/litecoin/dogecoin sidechain, etc) inside of a contract. An example of this is the lack of a Bitcoin-like “locktime” feature in Ethereum, as such a feature can be simulated via a protocol where users send “signed data packets” and those data packets can be fed into a specialized contract that processes them and performs some corresponding function if the data packet is in some contract-specific sense valid. Non-risk-aversion: the dev team is okay with higher degrees of risk if a risk-increasing change provides very substantial benefits (eg. generalized state transitions, 50x faster block times, consensus efficiency, etc)”
Ethereum Coin Trading
Ethereum can be purchased on the following cryptocurrency exchanges: Bitstamp, LATOKEN, Vebitcoin, HADAX, BigONE, Allbit, EXX, Poloniex, DragonEX, Gemini, Hotbit, Rfinex, CoinBene, Coindeal, CoinEgg, Huobi, CPDAX, OEX, LocalTrade, BtcTurk, BTC-Alpha, xBTCe, BtcTrade.im, ChaoEX, Coinhub, FCoin, Bibox, CEX.IO, IDCM, Exrates, Liqui, RightBTC, DDEX, OasisDEX, IDAX, BTC Markets, YoBit, Bithumb, Indodax, Sistemkoin, Coinbase Pro, Bitfinex, Fatbtc, TOPBTC, Coinsquare, DigiFinex, Mercatox, GOPAX, BitMart, Instant Bitex, Kucoin, Binance, CoinEx, BiteBTC, Bitlish, UEX, Bitbank, Livecoin, OOOBTC, Gate.io, MBAex, Exmo, HitBTC, B2BX, Bittrex, DOBI trade, Bancor Network, Cryptonex, Liquid, IDEX, Bitsane, Coinsuper, BitForex, Coinone, ZB.COM, TDAX, OKEx, Bit-Z, Simex, LBank, C2CX, Kryptono, Cobinhood, Korbit, Allcoin, BCEX, CoinTiger, ABCC, Kraken, BX Thailand, Neraex, Covesting and Upbit. Investors seeking to trade Ethereum using U.S. dollars directly can do so using Changelly, Gemini or GDAX.
Ethereum Price Could Reach $900, Predicts Elliott Wave Analyst
Lately, the top crypto Bitcoin has been enjoying incredibly rapid growth. In the last 24 hours, Bitcoin price has increased by over 11% and currently makes up $ 12,612 per coin, with $ 224,2 billion market cap. While many hope that BTC price surge indicates the beginning of a new long-lasting bull cycle, crypto geeks start moving faster allocating their capital to other crypto tokens, and the first option to invest in after Bitcoin is Ethereum.
Benjamin Blunts, a popular crypto trader and Elliott Wave technical analyst, has compared Ethereum movement in 2017 and now and found a striking resemblance between price actions. On Twitter, he demonstrated the results of his analysis and wrote that he has a kind of deja-vu.
In his post, Benjamin Blunts noted that on both charts, there is the declining volume from wave A to the apex of the triangle. Decreasing volume with the market in consolidation is considered bullish, which means that when price contracts at the apex and sellers are drained, demand overwhelms supply and leads to a breakout.
Further, the analyst pointed out that the key level to break is $302. The sideways movement started on June 16, when Ethereum broke out at the $277 price level after the consolidation. Bulls propelled the coin towards the $289 level and broke it up. The bullish momentum extended to $318 supply level.
At the moment of writing, Ethereum is trading at $333.31 per token. If Benjamin Blunts is right, we may see a lot of surprising things in the nearest future, and one of them is Ethereum reaching $900.
Bullish Predictions On Ethereum
Benjamin Blunts seems to be optimistic about Ethereum in general. Earlier, he predicted a bullish run on the market, saying that this will happen anyway, it is just a matter of time when. Moreover, he once stated that Ethereum can be a new Bitcoin.
Indeed, the new highs are anticipated, and there’re several reasons for that.
First, On January 3, 2020, a new version of Ethereum will be introduced. The date coincides with Bitcoin’s 11-year anniversary. Ethereum 2.0 is expected to facilitate on-chain transactions and ensure the highest level of security and preserve decentralization.
Also, as we’ve previously reported, MetLife’s Singapore-based incubator LumenLab has partnered with media corporation Singapore Press Holdings (SPH) and insurance company NTUC Income (Income) to roll out Ethereum-based smart contract platform known as Lifechain.
This initiative marks the growth of Ethereum blockchain as well as ETH token popularity allowing Ethereum supporters think that one day this currency may become a new Bitcoin, as Benjamin Blunts once stated.
Ethereum (ETH/USD) forecast and analysis on June 26, 2019
Cryptocurrency Ethereum (ETH/USD) is trading at 310. Cryptocurrency quotes are trading below the moving average with a period of 55. This indicates a bullish trend on Ethereum. At the moment, cryptocurrency quotes are moving near the middle border of the Bollinger Bands indicator.
Ethereum (ETH/USD) forecast and analysis on June 26, 2019
As part of the Ethereum course forecast, a test of level 306 is expected. From where we can expect an attempt to continue the growth of ETH/USD and further development of the upward trend. The purpose of this movement is the area near the level of 342. The conservative area for buying of Ethereum is located near the lower border of the Bollinger Bands indicator strip at the level of 300.
Cancellation of the option to continue the growth rate of Ethereum will be the breakdown of the lower border of the Bollinger Bands indicator. As well as the moving average with a period of 55 and closing of quotations of the pair below the area of 280. This will indicate a change in the current trend in favor of a bearish for ETH/USD. In case of a breakdown of the upper border of the Bollinger Bands indicator bars, one should expect an acceleration of the fall of the cryptocurrency.
Ethereum (ETH/USD) forecast and analysis on June 26, 2019 implies a test level of 306. Further growth is expected to continue to the area above the level of 342. The conservative area for buying Ethereum is located area of 300. Cancellation of the growth option of cryptocurrency will be a breakdown of the level of 280. In this case, we should expect a further fall.
A Second Chance With Ethereum For Those That Missed the Bitcoin Boat
There is no stopping Bitcoin at the moment as the king of crypto keeps heading skywards. As BTC touched $13,000 today many are asking ‘am I too late to get in’. The long term answer is clearly a no, but there are still good gains to be made on Ethereum if it repeats the performance from 2017.
Ethereum Still Undervalued
Bitcoin may well be up 240 percent this year and hitting new highs every day this week but all is not lost for those that think they have missed the boat. Corrections will happen, they always do, but many are now claiming that there will no longer be any four digit Bitcoin available to buy.
Looking at the second largest crypto asset on the market shows that it is still massively undervalued, especially when compared to its bigger brother. Bitcoin is now less than 40 percent down from its peak whereas Ethereum is still over 75 percent away from its giddy height of $1,400 back in January last year.
Today ETH has managed to ride the coattails of BTC pulling in another 7 percent to reach $335. As noted by ‘CryptoFibonacci’ ETH could be approaching resistance again now.
Ethereum gains in recent months have been sluggish in comparison. Granted, ETH is up 150 percent since the beginning of the year but it did get battered over 90 percent from ATH.
Crypto twitter commentator
‘Bleeding Crypto’ has also observed this:“IF missed the BTC run. You HAVE A SECOND CHANCE with ETH. Look at the historical Screen shots and see for yourself that ETH has outperformed BTC in ROI year after year. Unless you want to listen to those ignorant ***** that say ETH is dead. R U going to blow it with ETH too?”
Last year Ethereum shot from current prices in mid-November to top $1,400 just two months later. That is a gain of 325 percent in just a few weeks. Of course, there is no ICO boom this time around and Ethereum has been lacking fundamental momentum with Serenity delays, but the ecosystem still has huge potential for even bigger gains.
What About Other Altcoins?
Ethereum is not the only undervalued altcoin. Those Bitcoin maximalists on CT will be partying right now but if a repeat of 2017 is on the cards, altseason could be just around the corner. Many are way down, over 80 percent from their peaks, so potential for gains will be greater when funds start shifting into altcoins.
Total market capitalization hit $365 billion today, but Bitcoin holds $225 billion of it alone. It is only a matter of time before the ratio adjusts and Ethereum is likely to lead the way when it does.