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.
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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.
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.
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.