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Home Markets Cryptos

Ethereum flying high, up 10%

Olumide Adesina by Olumide Adesina
December 17, 2020
in Cryptos
Ethereum, Crypto
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Ethereum investors are now smiling to the bank amid high returns seen in the second most valuable crypto market.

Ethereum was trading at $650.87 by 03:10 am GMT on Thursday, up 10.01% on the day. It was the largest one-day percentage gain since August 1.

READ: Cardano bazooka by 10%

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  • The move upwards pushed Ethereum’s market value to $74 Billion or 11.71% of the total cryptocurrency market value. At its highest, Ethereum’s market cap was $136 Billion.
  • The widely known utility crypto, Ethereum, is on ‘fire’, taking into account high buying interests seen by global investors as it trades above $650.

READ: Ripple gains over 171% last month

What this means: Ethereum has gained more than 290% year to date alone, and it seems the party for its investors is just starting amid recent price action revealing high demand for the popularly known utility crypto.

Over the week, Ethereum’s value has appreciated by 13.3%. The volume of Ethereum traded for the day to the time of writing was about $18 Billion or 9.18% of the total volume of all crypto market.

READ: XRP drops 10%, biggest fall since December 4

What you should know
Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

  • Like with many other crypto assets, speculating with Ethereum can be highly profitable and has had a good history of giving its investors huge returns.
  • However, there are also many other options to make income from Ethereum. These options include Ethereum mining, Ethereum faucets, and Ethereum staking.

READ: OmiseGO, fastest growing altcoin, up 49% in past 24 hours


Follow us for Breaking News and Market Intelligence.
Tags: Business NewscryptoCryptocurrencyCryptocurrency NewsEthereumEthereum faucetsEthereum mining
Olumide Adesina

Olumide Adesina

Olumide Adesina is a financial market writer, analyst and investment trader. Message Olumide on Twitter @Olumidecapital

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