Latest Ethereum price and analysis (ETH to USD)

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Ethereum is currently trading back above the crucial $2,000 level of support as it takes aim at a weekend record high above $2,158.

The world’s second largest cryptocurrency has risen by more than 175% since the turn of the year and a staggering 1,156% in the past 12 months.

It has recently benefited from a period of sideways consolidation in the price of Bitcoin, which has led to market-wide rallies across the majority of altcoins like Ethereum, Litecoin and Bitcoin Cash.

In the immediate future, Coinbase’s upcoming direct listing on Nasdaq next week is expected the be a positive step forwards for the entire industry, although it’s worth noting that traders may look to “sell the news” over an event of this nature.

ETHUSD chart by TradingView

If hype and optimism can be sustained until next Wednesday’s listing, Ethereum is being predicted to form a new all-time high this weekend with aggressive upside price targets coming in at around $2,275.

However, if the wider market begins to correct, the correlation in assets would see Ethereum slump back below $2,000 to test the prior low of $1,933, with another potential target at $1,850.

Ethereum has been bolstered this year by a surge in popularity surrounding DeFi protocols, most of which are based on Ethereum’s blockchain.

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About Ethereum

Ethereum was launched by Vitalik Buterin on July 30 2015. He was a researcher and programmer working on Bitcoin Magazine and he initially wrote a whitepaper in 2013 describing Ethereum.

Buterin had proposed that Bitcoin needed a scripting language. He decided to develop a new platform with a more general scripting language when he couldn’t get buy-in to his proposal.

More Ethereum news and information

If you want to find out more information about Ethereum or cryptocurrencies in general, then use the search box at the top of this page. Please check the below article:

https://coinrivet.com/ethereum-adopts-erc-1155-as-an-official-standard/

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As with any investment, it pays to do some homework before you part with your money. The prices of cryptocurrencies are volatile and go up and down quickly. This page is not recommending a particular currency or whether you should invest or not.

You may be interested in our range of cryptocurrency guides along with the latest cryptocurrency news.

Disclaimer: This is not financial advice.

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The world’s most popular cryptocurrency on YouTube have been revealed in a study by Total Processing.

Although Bitcoin’s (BTC) price has surged by over 700% during the last 12 months, the cryptocurrency’s value has dropped nearly 4% since March 2021.

However, it’s a different story for Ethereum (ETH) with its price continually on the rise, increasing by 1,100% since April 2020. ETH is also gaining huge support by big-name investors like billionaire Mark Cuban who recently stated that he expects Ethereum’s long-awaited 2.0 upgrade to spark the development of apps that will “dwarf” bitcoin.

Whilst the media plays a part in the value and popularity of cryptocurrencies like ETH, YouTube’s role is just as significant. Ethereum has begun dominating platforms like YouTube, with ETH related news totalling over 231 million views on the platform to date.

Please find below our interesting data which includes the number of views each cryptocurrency has received on YouTube over the past year.

CME Ethereum Futures Hit Record $240M Trading Volume This Week Signalling Rising Demand

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Volumes and open interest for CME Ethereum Futures reached a record high this week, according to data from crypto analytics platform Skew.

What Happened: Daily volume neared $240 million in a single day, and total open interest crossed $180 million. These were the highest observed levels since CME launched its Ethereum futures on Feb 8.

CME Ether futures had a record volume day this week pic.twitter.com/zchWxeA4O5 — skew (@skewdotcom) April 9, 2021

An associate from crypto asset fund Decentral Park Capital, Lewis Harland, highlighted that the all-time high in open interest on CME ETH futures was a sign that institutional demand for the cryptocurrency is growing.

Harland also commented on Ethereum’s “massive supply shortage” and what it could potentially mean for the asset’s price.

Why It Matters: In a chart depicting the total value of all Ethereum staked vs. balance on exchanges, Harland observed that so far, over 1.5 million ETH has been staked in the Beacon Chain. The Beacon Chain will introduce proof-of-stake to Ethereum as it transitions to ETH 2.0, and staking is a means by which users can keep the network “secure” in order to activate validator software.

In addition to the staked Ethereum, 2.1 million ETH has been withdrawn from exchanges, and that number has continued to fall.

Finally, Harland observed that as of April 5, 10.7 million ETH amounting to $22.6 billion was locked in DeFi, and the current trend confirms that this number is likely to grow further.

If Ethereum’s supply continues to drop amidst rising demand from retail and institutional investors, the asset’s price could have a significant positive impact, according to market proponents.

Price Action: Ethereum was trading at $2,067 at the time of writing, up 1.72% in the past 24-hours. The second-largest cryptocurrency by market cap hit an all-time high of $2,151 earlier this week, according to data from CoinMarketCap.

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