Ethereum: Cryptocurrency price figures spike overnight
When you subscribe we will use the information you provide to send you these newsletters. Sometimes they’ll include recommendations for other related newsletters or services we offer. Our Privacy Notice explains more about how we use your data, and your rights. You can unsubscribe at any time.
Ethereum is a decentralised, open source blockchain with smart contract functionality. Ethereum, alongside Dogecoin, has hit a new all-time high this week amid a crypto coin frenzy. The price surge means the combined value of all cryptocurrencies is now greater than the market cap of Apple – the world’s most valuable company. The cryptocurrency hit a new all-time high on Tuesday of $3,523.59 (£2,346.32), according to CoinMarketCap’s price index, pushing its overall market cap above $400billion for the first time in its history. This is more than one third of Bitcoin’s market cap, having been worth less than a sixth of its more famous rival at the start of 2021.
Konstantin Anissimov, executive director of crypto exchange CEX.IO, said: “Ethereum has been able to maintain its positive momentum with a crushing series of all-time highs in the past week.
“The current all-time high has reignited the ambitious sentiment that ethereal may eventually flip bitcoin by market capitalisation in the near future.
“In the past week, ethereal has surged by 35 percent against the 1.5 percent growth for bitcoin.
“While a retracement is in the works, the positive growth rate has been steady enough to warrant any sharp drop.”
What will Ethereum be worth in 2030?
Ethereum is a great investment for a number of reasons, one being unlike traditional investments, most digital assets are highly liquid.
The worldwide network that includes trading platforms, online brokerage and exchanges gives it an edge over the business.
Another advantage is you can trade Ethereum for gold, cash, and other digital assets at a very low fee.
Just like traditional currencies, you can use Ethereum to sort out your financial needs at any time.
Ethereum is a perfect option for investors as it enables easier access from traders and a very high potential for long-term growth.
This is because the scalability of the platform gives it room for constant improvement by the developers.
Therefore, investing in Ethereum has high changes of bringing in higher investment returns in the future.
Ethereum’s value is expected to soar by 2030, according to one top-tier crypto exchange platform.
Bitcoin vs Ethereum: ‘Bullish tailwinds’ predicted for ETH [INSIGHT]
Dogecoin price hits new record high ahead of Elon Musk SNL appearance [REPORT]
Bitcoin warning: Musk’s Dogecoin ‘control’ will ‘not be tolerated’ [ANALYSIS]
CoinPrice forecasts Ethereum will hit a whopping $5,000 (£3,598.75) by the end of 2030.
The report further indicates the price of the crypto coin will hit $10,000 (£7,197.50) by 2023 before crossing the $20,000 (£14,399).
If you are a long-term investor who is not ready for short term losses, then investing in Ethereum is a perfect choice for you.
Unlike flat currencies regulated by countries around the world, the blockchain technology used by Ethereum makes it difficult to manipulate its value, according to The Good Men Project.
This, in turn, saves the digital currency from being affected by inflation – a risk physical currency faces constantly.
The Good Men Project writes: “High inflation is associated with a sharp decline in the value of traditional currencies.
“To survive inflation, various governments impose measures to counter such effects – unlike digital currencies which are decentralised and few in numbers, an increase in value is inevitable.”
However, as with any cryptocurrency and altcoin, investing is a risky move and make sure you’re only doing so with all the facts in mind and are prepared to potentially lose money.
Source: Read Full Article