In the last weeks Ethereum led the cryptocurrency market but Bitcoin took the position today.
Ethereum was pitched as a decentralized platform that is able to run and complete smart contracts. Those contracts are programs that can be executed without downsides like censorships, fraud or hacking attempts from third-party entities. The initiative allows users create a digital token that can be used for several purposes. The project was released in August 2014 by the Etherum Foundation, an NGO from Switzerland.
Bitcoin rose dramatically after the ETH/BTC pair reached 0.041. This led to an accelerated transfer of assets from Ethereum to Bitcoin and boostest the latter by 5%.
Daily crypto stats
BTC/USD trades reached $4013 but the growth may slow down in the following days. The coin may be able to reach a new price level this year but the decline that took place in 2018 is still felt. The price congestion rate will play a huge role in the equation since BTC/USD should reach $5,874 in order to mark a constant positive trend. If a massive sell occurs two support levels will mitigate a free-fall in the case of a price drop to $3,590 and $3,273 respectively.
ETH/USD is trading for $153.90 after reaching a peak of $163.74. ETH is strong and is likely to grow exponentially after the release of the Constantinople update. The target tier, for now, is $170 but some sources anticipate a climb to $260(which includes price congestion resistance). Three support levels are also considered, namely $142, $125 and $95.
The exchange rate for XRP has slowed considerably, reaching a price level of $0.3684. The currency has been stuck at the $0.37 point for two weeks and the current trend seems to be negative. Three support levels will hamper the decline if the coins go down to $0.345, $0.32 and $0.297. Some hope that the price will get stronger in the following months but that remains to be seen.
Vadim has been a fan of decentralized systems, blockchain technology, and cryptocurrency since he first bumped into these concepts back in 2011. For us, he will cover Bitcoin (BTC), cryptocurrency, and blockchain technology news.