Ethereum (ETH) Price Crosses $300: 5 Reasons for Reawakening
(ETH) moved in unison with (BTC), as the leading coin broke the $11,200 barrier for the first time in more than a year. Usually, a rising BTC would push down ETH, but this time around, there are indicators for optimists that see the second largest coin move to more significant valuations.
ETH traded at $307.47 as of 9:45 UTC on Monday, moving up more than 300% since the lows of $92 in December 2018. Now, ETH has a long way to go to its heights, as it trades at around 0.028 BTC. Here are the five factors to boost the price of ETH:
ETH is the coin that sees the biggest inflows of funds, both from Bitcoin (BTC) and Tether (USDT). From the BTC markets, more than $1 billion’s equivalent flow into ETH, which is a ramp for a larger array of altcoins. Another $1.14 billion’s equivalent flow in from Tether (USDT) markets. Thus, ETH is much more than a “utility coin” for the Ethereum network, and its market price reveals the coin is actually central to the system of exchanges. To compare, other “utility coins” for networks similar to Ethereum are commanding a much lower price – and are not included in base pairs.
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