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- ETH had always been lying in between the score of $ 150 and $ 160 but could never cross the obstacles.
- ETH had even witnessed the price as high as $167, which later on had a temporary correction of the price at $160 on January 15.
- ETH is progressing rapidly and is perhaps because of the development of the DeFi markets.
Ethereum or as abbreviated as ETH, which has emerged as a decentralized global platform for money and new kinds of applications, grew up to a mark higher than its earlier barriers.
The ETH had always been lying in between the score of $ 150 and $ 160 but could never cross the obstacles. Recently, the open-source network, ETH, crossed a value barrier of $160 and reached a $165.17.
This price has been the highest level of altcoin ever since November 21, 2019. According to an in-depth study of the currency, the price of the altcoin has grown over 15% in the current week.
Also, when spoken of the market capitalization, the price of the Ethereum grew to a price of $ 18.04 billion alone, while the daily trading volume was just about $ 17.817 billion.
Earlier on January 14, the ETH had even witnessed the price as high as $167, which later on had a temporary correction of the price at $160 on January 15. The Bitstamp crypto exchange revised the value.
On the other side, the altcoin, along with Bitcoin, strengthens its worth and position all-together. The Bitcoin, which is a decentralized Crypto asset and was created by Satoshi Nakamoto, has always been beneficial for its investors.
The current price if the coin is $8843, which is something huge. Moreover, according to sources, the prices of the Crypto BTC could even rise to a value of over $9000 within just a few moments for its large market caps when bought and sold, could flip the market in extremes.
Even last year, during early November, BTC had a market soaring with a value of more than $9000 for some days.
Coming back onto the topic of Ethereum, the ETH is progressing rapidly and is perhaps because of the development of the DeFi markets. The DeFi market is a part of the Ethereum ecosystem and is a decentralized movement and is providing the support of the coin at the value of $162.
🏆 New all-time high for #DeFi
— DeFi Pulse (@defipulse) January 14, 2020
Strap in because the year has just begun 🚀 pic.twitter.com/KySmISSKJz
Lastly, all we can say is that though the ETH value is growing, it must not be mistaken for the increase in the trend or rather say an uptrend. But again, if the price of the asset reaches a value as low as $160, the prices can still rise to $165 or $170.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
