According to the current data, Bitcoin Halving is said to be finished and at the same time, Ethereum experienced a gradual shift in its value in response to the current market crash. Multiple reasons are showing the impact on Ethereum’s slow run in the crypto market. One such is that the observers didn’t expect the U.S Securities and Exchange Commission to authorize the Ethereum ETFs that impacted the Ethereum purchase.
Last week, Ethereum underwent a 15% loss in its value, which brought its position lower than any other top cryptocurrency. Even Bitcoin didn’t face any big change in its comeback to its big Halving event. However, by this week, Ethereum is showing growth of 0.8%.
The reason for Ethereum’s price rise may indicate the major transaction taking place on its network. Observers noted that one trader withdrew major Ethereum, approximately ranging to 10,119 ETH from the Binance exchange. This signifies that many big whales are moving the Ethereum. This influences the price of Ethereum.
Onwards the 8th of April many Investors purchased several Ethereums, making a total of 1,27,388 ETH worth $405.19 million – Noted by Look on Chain.
Market Analysis
According to CoinMarketCap, presently Ethereum is priced at $3,171.40. It has a current market cap of $387 billion which is 0.27% higher than the earlier one. Moreover, Ethereum has recorded a trading value of $10.6 billion in the past 24 hours. This Market analysis indicates the ups and downs in the valuation of Ethereum and highlights the growth.
As of today, Ethereum is noted to trade between $3,222.74 to a low $3,155.99 noting the average price movement. Ethereum on November 16, 2021, noted its all-time high of $4,891.70.
Also read: Co-founder of Ethereum Files Lawsuit Against US Government for False Charges
