Good news for all Ethereum enthusiasts as an increase of approximately 8.2% has been noted in the price of ETH in the last 24 hours. According to the increase in ETH’s price, it is now trading at $2,559 (at the time of writing).
The price of the popular altcoin was just below $2,300 over the weekend, which is one of its lowest points. However, it managed to recover earlier today and has been trading in the $2,500 region.
Here is a graph by CoinGecko that shows the price ranges of Ethereum.
It has also been reported that over 20% of Ethereum has been locked in smart contracts. This can significantly help the crypto asset to grow stronger and become a decentralized financial layer.
This indicates growth and prominence for ETH, therefore, if you have been planning to invest in Ethereum you can use secure exchanges. SwissBorg and Kraken are two of the safest exchanges for beginners and experts, alike.
You can also use PrimeXBT Covesting to begin crypto trading, as it is one of the best platforms for beginners.
Details About ETH’s Price Surge and Smart Contracts
Ethereum is the second-largest cryptocurrency in the world and it has retained its value and position regardless of fluctuations in its price. Organizations, companies and individual investors who recognize the true value of the popular altcoin have been known to invest in it, even when the price was low.
Now a price surge has been noted for the digital asset, which is anticipated to follow an upward momentum.
The massive number of ETH locked in smart contracts is also good news for the Ethereum investors and enthusiasts. Anthony Sassano, industry observer and ETHhub founder stated:
“The amount of ETH in smart contracts is now at a similar level to what it was during The DAO event (around 23% of all ETH).”
The DAO event was observed in the middle of 2016 and according to Sassano, ETH was worth $13 back then, mounting to $230 million. According to the current price levels, the amount has now surged to $68 billion.
The increase in Ethereum’s price seen today was positive news for many who had been waiting for a surge since the price correction witnessed all across the crypto market in May.
A further increase in Ethereum’s price is expected to be seen in the upcoming days. Therefore, if you want to make use of ETH’s current price and purchase the crypto, make sure you use secure exchanges such as SwissBorg or Kraken.
Should You Invest in Ethereum?
Ethereum is the most popular altcoin in the market. In recent news, Ethereum was supported by SpaceX and SpaceChain as an ETH node was sent to space to determine the range of its functionality.
According to Yao Qian, it is also capable enough of directly running central bank digital currency (CBDC) on the network.
In short, ETH has been a prominent altcoin and a competitor of BTC according to some crypto enthusiasts and analysts who are also of the opinion that ETH is better than BTC.
Regardless of the opinions, if ETH seems suitable for you to purchase then you should use reliable crypto exchanges, especially if you are new to the crypto space.
On the other hand, if you are a trader and want to trade Ethereum with up to 100x leverage you can opt for ByBit. Use this link to sign up and earn a free bonus on your initial deposit.