Ethereum Price Today: Crypto Not Showing Any Robust Ascent
February 14 2022 - 3:26AM
NEWSBTC
Ethereum (ETH) is trading at USD2,932.45, with a trading volume of
USD9,666,018,686 in the last 24 hours. Ethereum price posted a gain
of 1.23%, a 24-hour low of $2,870.18, and a high of $2,980.08. It
is currently at the No. 2 spot on the Coin Market Cap chart, with a
current market cap of USD350,616,744,281. Tokens in circulation now
total 119,564,241 ETH. Three months ago, ETH – the second-biggest
cryptocurrency – was trading at $4,809; on Jan. 11, 2022, it
dropped to $3,251, and on Feb. 4, it was at $3,026. Other
currencies, including Tether, BNB, USD Coin, XRP, Cardano, Solana,
and Terra, are also seeing significant drops, hurting the market.
These recent significant dips in Ethereum and Bitcoin are also
driven by sustained increasing inflation, a dismal December
employment report, and persistent hints by the Federal Reserve that
the central bank may begin slowing down steps to prop up the
economy as it improves. Ethereum Price Forecast Based on current
data, Ethereum’s price will average $2,822.07 and reach a high of
USD3,174.82. After reaching a high of $4,100 on Dec. 27, Ethereum
has fluctuated between $2,100 and $4,000 in the days afterward.
Despite the poor start to 2022, many analysts remain optimistic,
forecasting that Ethereum would reach and exceed $12,000 this year.
ETH/USD at $2886.5 in the daily chart | Source:
TradingView.com Related Reading | Ethereum Faces Rejection,
Why ETH Could Nosedive Below $3K Meanwhile, after a robust
November, Bitcoin has also paused over the previous month. Bitcoin
achieved a new all-time high when it crossed $68,000. There is
little doubt that Bitcoin and Ethereum will continue to fluctuate
in the future, and experts advise investors to remain cautious.
Experts say to overlook the ups and downs while making a long-term
investment. That doesn’t imply that the recent slide in price has
extinguished Ethereum’s volatility. Crypto Expert Advises On ETH
The real issue is whether or not these currencies will continue to
increase after they are owned, Jeremy Schneider, the Personal
Finance Club’s investment guru, said. “No more than 5% of your
whole portfolio should be held as Ethereum due to the lack of
assurance that its value will rise,” Schneider said. The investment
expert added that people should not invest at the risk of not
accomplishing their other financial objectives, such as paying off
high-interest debt or preparing for future retirement. Like
Bitcoin, Ethereum has its blockchain, maintained by a global
network of over 2.4 million computers known as “nodes.” Anyone with
the required hardware, skills, and time may run an Ethereum node
and contribute to network validation. Miners are in charge of
finding new blocks on the Ethereum network. These are analogous to
digital boxes that store transaction and other data. Miners compete
by utilizing specialized computer equipment to be the next person
to add a block to the chain and collect transaction fees (from the
transactions they add to the block) as well as “block rewards.”
Related Reading | Ethereum Prints Bearish Technical Pattern, Why It
Could Revisit $2.5K Featured image from CoinSpeaker, chart from
TradingView.com
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