Ethereum rose 5.28% in just 6 hours, Hints at a Bullish Momentum

Ethereum witnessed a bullish momentum, surges by 5.28% in mere 6 hours
  • In a mere time of 6 hours, Ethereum’s value ranged between $1,502.56 and $1,427.27
  • Ethereum is currently witnessing a bullish momentum
  • Bitcoin bet stimulated a rally at Japan’s most extravagant brokerage platform

Ethereum is currently witnessing a bullish momentum. On 26 February, at 23:03 EST, Ethereum stood at $1,502.56. The crypto asset experienced a surge of 5.28% in just 6 hours.

Ethereum’s Fluctuating Range in a Short Period

In a mere time of 6 hours, Ethereum’s value ranged between $1,502.56 and $1,427.27. In the slot of the total 12 hours, Ethereum’s bigger value stood at $1,545.50 while the lower value was $1,427.27. Its current value is 6.081% up.

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About the yearly highs and lows of Ethereum, its value stands up by 1478.651% from its 52-week low. Ethereum’s last month’s average volatility was 4.49%.

In other news, Coinshares is all set to launch a fresh Ethereum exchange-traded product (ETP), a physically-backed one. A report of Bloomberg Quint on 24 February verified the former news.

Bitcoin’s Progress in the Crypto Space 

Bitcoin bet stimulated a rally at Japan’s most extravagant brokerage platform. Per the 24 February report of Bloomberg Quint, even at a recent withdrawal during an exchange of Bitcoin in recent days, Monex represents the most costly stock on Japanese securities institutions’ index. It holds a value of more than thrice the book value of its products. It further stated that the surging price of Bitcoin stimulated trading activity and motivated more individual tears to jump into the field.

Bitcoin recently exceeded the historic value of $58,000. Tesla Inc.’s CEO Elon Musk, in his tweets, mentioned that Bitcoin prices appear to be very high. Earlier, he had called the crypto asset as a less dumb form of cash. Tesla also unveiled a $1.5 billion Bitcoin upgrade to its balance sheet previously this month.

JPMorgan says traders are likely to make Bitcoin 1% of portfolios. BNY Mellon also declared proposals to hold, exchange, and publish the digital currency for its customers. JPMorgan Chase & Co. represents the latest addition to the series of Wall Street firms floating the scheme of traders using Bitcoin as a medium to expand their portfolios.

The Bitcoin holders and single name stocks hold the same risk choice around macro shocks. Thus, there exists a risk of simultaneous phasing out in both of these crypto assets.

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Andrew Smith
Andrew is a blockchain developer from his education and developed his interest in the cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer.

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