Why did Ethereum rise sharply (why did Ethereum rise)
From the graph, it can be seen that the rise of Bitcoin is driven by the continuous rise in ETH prices. However, due to the constant fluctuation of its price, while Bitcoin has never broken a new historical high, Ethereum has dropped significantly, and has now fallen below the resistance level of the 200 day average and the 180 day average Therefore, for many investors, the reason why Bitcoin can maintain such high points and rapidly rise is because it can serve as a means of storing monetary value and can also be used to invest in other assets or digital tokens. However, if they want to obtain greater investment returns, they must have more funds to purchase these Cryptocurrency, because they will think that this is a better choice. So, when you want to invest more money into the Bitcoin market, the first thing you need to understand is its fundamentals and the level of progress in blockchain technology
Why did Ethereum rise
Why did Ethereum rise in the bull market in 2017? The answer is due to the decentralization and scalability of Ethereum. Bitcoin has no restrictions from the beginning. It has always been regarded as a form of currency, while Ethereum has constantly become a payment mechanism, because it allows people to use smart contracts to send, receive, store value and other digital assets Why did Ethereum rise? Below we will analyze the reasons
First of all, Ethereum rose because of the DeFi boom. Ethereum was born as a new financial market project on January 2, 2018, and its price soared to more than 30000 dollars Secondly, in early 2018, Bitcoin hit a historic high of around $12400, and by the end of 2019, it had reached a historic high of over $20000. At that time, investors believed that this investment would have a profound impact on the ecology of Ethereum. But in fact, after mid June 2018, this situation has changed, and it was not until the second half of this year that there was a significant growth, followed by a sharp decline and then another decline, currently at a long-term low. However, with the popularity of DeFi, Ethereum has also become a star in the blockchain world, and its application scenarios are gradually expanding to include the game industry, social platforms and other fields.
This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/crypto/22241.html
It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.
Related recommendations
-
A Look at the Reasons Behind the Surge in TUSD’s Market Share
On April 16th, Kaiko data showed that the BTC-TUSD and BTC-USDT trading pairs of Coin An saw TUSD\’s market share rise to 49%, almost equal to Tether\’s USDT. However, the growth of
-
The Surge of Bitcoin Addresses Holding 0.1 BTC: Understanding the Implications
According to reports, according to Glassnode data, the number of addresses holding 0.1 BTCs has reached a historic high of 4295400.
The number of addresses holding 0.1 BTCs has rea -
Blockchain.com suspends asset management business amidst cryptocurrency winter
It is reported that Blockchain. com will suspend its asset management business. According to a document, Blockchain. com Asset Management Company (BCAM) applied
-
Which dog has a good market this year (which dog is currently the best-selling)
What’s the trend of the good market for Dogecoin this year? What kind of dog market is doing well this year? Bitcoin has risen more than threefold in the past 24 hours. So far, the Dogecoin has risen sharply for two consecutive weeks, with an increase of more than 50% since January. As of the time of publication, DOGE is currently reporting $0.066 (-0.01%), with a market value of $200 million. In addition, according to the monitoring data of DogeWhalemap, the current global total flow of Cryptocurrency is about 936000; The top 50 virtual assets include XMR, ZEC, XLM, etc; The BTC price has dropped by 6.5% compared to yesterday What’s good about Dogecoin in 2019? 2019 is worth noting: the price performance of Dogecoin is impressive, even surpassing all other counterfeit coins. Although Dogecoin has recently attracted many investors’ attention, with the growing popularity of digital currency and the increasing coverage of it by various mainstream media, people begin…
-
Antimater Announces MATTER Token Airdrop and Launch of B2 Main Network
On April 20th, it was announced that DeFi derivatives portal Antimater has released MATTER token air drop rules, which will air drop 5% of the total supply, 5 million MATTER, to el
-
Exploding Bitcoin Mentions on Twitter: What Does it Mean for Cryptocurrency Investors?
According to reports, according to big data statistics from intotheblock, the number of tweets mentioning BTC on Twitter has exploded recently, reaching the highest level since the
-
Instadapp Launches New Smart Contract Wallet with Multi-Network Transaction Support
On March 9, the multi-chain DeFi management protocol Instadapp launched the smart contract wallet Avocado, which supports multi-network transactions. Gas in all
-
CME’s Federal Reserve Observation: Interest Rate Predictions
According to CME’s “Federal Reserve Observation”, the probability of the Federal Reserve maintaining interest rates unchanged in March is 34.3%, and the probability of raising interest rates by 25 basis points to the range of 4.75% to 5.00% is 65.7%; The probability of maintaining interest rates unchanged by May is 26.1%, the probability of a cumulative interest rate increase of 25 basis points is 58.2%, and the probability of a cumulative interest rate increase of 50 basis points is 15.8%. The probability of the Federal Reserve raising interest rates by 25 basis points in March is 65.7% Analysis based on this information:The Federal Reserve is a crucial part of the US economy, and their decisions can have significant impacts on the financial market. CME’s “Federal Reserve Observation” provides insight into the probability of the Federal Reserve taking different actions regarding interest rates. According to the report, there is a 34.3% probability of the Federal Reserve maintaining interest rates unchanged in…
-
Solana Ecosystem Project Suddenly Changes Course: What’s Happening?
According to reports, according to on chain detective ZachXBT, the Solana ecosystem project, which previously had 200000 followers, has deleted all tweets and changed its username
-
Bitcoin Transaction Fees Reach a 20-Month High
It is reported that the transaction fee paid to Bitcoin miners has reached a new 20-month high of 1.434BTC in the past hour (7d MA). Yesterday, the value was 1.431BTC.
Transaction