1. QiAi QuestsHome
  2. Daily Digest

Why did Ethereum fall so hard (why did Ethereum fall so hard)

• Daily Digest • 73 views

Why did Ethereum fall so hard

Why did Ethereum fall so hard Ethereum? Why did Ethereum fall? Why did it fall so violently? Today I would like to share with you the reasons for Ethereum. 1、 ETH prices have skyrocketed

Bitcoin has risen by nearly 20% in the past two days and has now reached its highest level in history.

. But as the market continues to move upwards, the market sentiment becomes increasingly low. According to the data of CoinMarketCap (as of January 4, 2020), the price of Ethereum has soared from $19 to $25, up nearly 100%. However, Ethereum did not continue to rebound, but made some minor adjustments (i.e., callbacks). Although some investors in the market recently believe that this rebound is due to technical tests and the impact of recent market trends, this phenomenon is not unreasonable. 2、 Why did Ethereum fall so violently Ethereum has maintained relatively high technical and investment value since 2019. Ethereum, as the leader of the digital asset market, has long held an absolute high market value share and also dominates the global DeFi ecosystem. But Ethereum itself does not have this function – it is just a decentralized application or payment system. Therefore, it cannot become a currency because its application is still in a very unstable state and its development cycle is also long (or even shorter). At the end of 2017, Ethereum reached the highest point and then rapidly dropped to the lowest level. Now, the trading volume of mainstream tokens such as ETH/BTC has exceeded the high level at the end of 2017, indicating that the market’s recognition of blockchain technology is increasing; Since this year, with the approaching of ETH2.0 merger and upgrading, various counterfeit coins have been taken off the shelves, resulting in a sharp drop in the price of Ethereum. At the beginning of 2020, the price of ETH once hit about $180, but within six months, the price of Ethereum retreated to around $150 again

III. Why did Ethereum fall so deeply

Why did Ethereum fall so badly

According to Coindesk, the price of Ethereum (ETH) has fallen to about 3000 dollars in recent years. Since falling to its low point in early May last year in December, the price of Bitcoin has quickly climbed from $34000 to the highest of $66000, and now it has fallen back to around the lowest of $49000. This time, the Ethereum has once again plunged significantly

According to the data analysis of CoinDesk, Ethereum (ETH), XRP and LTC are among the three best performing Cryptocurrency at present, but compared with other mainstream crypto assets, their trend is not good. Therefore, despite investors’ cautious attitude towards Ethereum, they still chose to invest in safe haven. However, for those who wish to hold Ethereum, this is an irresponsible move. Why did Ethereum fall so badly? The reason why Ethereum has soared is that its token value has risen rapidly by more than 50% in the past few hours. Although its market value declined in September, with the upgrade and implementation of ETH2.0 deposit contracts, the market value of the project has also been steadily increasing

In addition, transaction costs on the Ethereum blockchain are also declining. As of the time of publication, the online processing fee is 0.031BTC or 0.1ETH; Each transfer only requires 0.002 ETHs.

This article and pictures are from the Internet and do not represent qiAiAi's position. If you infringe, please contact us to delete:https://www.qiaiai.com/daily/22243.html

It is strongly recommended that you study, review, analyze and verify the content independently, use the relevant data and content carefully, and bear all risks arising therefrom.

Like (0)
Previous 08/05/2023 20:03
Next 08/05/2023 20:26

Related recommendations