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Home Markets Cryptos

Ethereum defying law of gravity surges past $1,050

Olumide AdesinabyOlumide Adesina
2 years ago
in Cryptos, Spotlight
Number of contract calls on Ethereum rises by 300%
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The world’s utility crypto, Ether traded above $1,000 for the first time since 2018, hours after smashing past $800 for the first time since March 2020.

What you should know; At the time of writing, Ethereum price traded at $1,050.73 with a daily trading volume of $64.7 billion. Ethereum is up 31.63% for the day with a market value estimated to be $120 billion.

READ: Ethereum market value of $83.8 billion is now bigger than Nigerian Stock Exchange

Ether trading volumes on leading exchanges tracked by Nairametrics have been substantially higher over the previous month. about two days ago the one-week average of total volume for ether trades on those crypto exchanges was $3.3 billion.

It’s vital to note the increased buying pressure in Ether is on a record high since it has caught the eye of high net worth individuals.

READ: Why Ethereum could make you rich

READ: Short term buyers beware! Bitcoin drops $3000 in a few mins

  • Ether’s love among institutional investors is based on its high utility fundamentals. First, the DeFi, the industry is the hottest and the most trendy thing in the crypto-verse in 2020.
  • Ethereum blockchain also maintains the leadership status as almost all DeFi projects are based on Ethereum blockchain.
  • Just recently it upgraded to Ethereum 2.0, which is seen by many crypto enthusiasts as the game-changer in reforming the distributed system, after some years of research and coordinated effort by top developers around the world.

READ: You can now buy Bitcoin, Ethereum, Uniswap through Apple Pay

READ ALSO: Ripple takes back 800 million XRP

 

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Tags: Business NewsCryptocurrencyCryptocurrency NewsEtherEthereum

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