One of the best crypto assets is Ethereum, which is also called ETH, which is the native currency of the platform. The Blockchain world seems to be ruled by algorithms and science-backed cryptocurrencies, have become the talk of the town for decentralized finance (Defi).
Currently, Ethereum (ETH) Price is $4,531.50 with a market capitalization of $537,411,388,601, putting it in a good position in the global cryptocurrency rankings.
History of Ethereum
Vitalik Buterin came up with the idea of Ethereum in 2013. Development of the network began in 2014, with crowdfunders funding the project. It went live on 30 July 2015. Platform users can deploy permanent decentralized applications, with which they can interact, onto it, which are immutable.
Ethereum (ETH) price analysis
Currently, there is a level of resistance at $4619.76, the next resistance will be $4704.00, and a strong support level will be $4436.50 and afterward $4,337.48.
If Ethereum (ETH) Price breaks through this resistance level, the price may retest the current support levels before further descending to the next support level of $4436.50. A break of this level may lead Ethereum to move down further to $4,337.48.
It’s apparent that Ethereum (ETH) Price is likely to move upwards from its current level, with bullish indicators showing. The price of ETH will likely move towards $4,704.00 in the near future.
Ethereum Recent updates
- With Ethereum fees soaring, Layer-2 and multi-chain DeFi platforms have seen record inflows
Ethereum Network co-creator Vitalik Buterin said in 2014 that the ‘Internet of Money’ shouldn’t cost $0.05 per transaction, which caused investors and blockchain projects to complain.
- T In a new round of financing ($93 million), Ethereum-powered metaverse Sandbox ($SAND) raised $29.8 million
In its latest funding round, the Ethereum-powered virtual world “The Sandbox” ($SAND) managed to raise $93 million from SoftBank Group’s second venture capital fund, Vision Fund 2.