There are exciting times for Ethereum traders, as the price seems to be correcting upwards again. Slowly but surely, the value per Ethereum is going up, although it is only occurring through minor increments. Bitcoin trading volume is still down by quite a margin, but the price seems to be holding steady so far.
Ethereum Price Rises Slightly
With still a majority of focus on the Bitcoin price right now, Ethereum seems to be holding its own quite well over time. In fact, the value against both Bitcoin and the US Dollar has seen a minor bump in the upward direction. One ETH is currently worth US$14.40, which is up slightly from US$14.08 earlier this week.
Poloniex has regained the lead across Bitcoin exchanges trading Ethereum, despite facing a small outage earlier this week. Those issues were resolved rather quickly, though, which is a positive sign. All in all, the Ethereum price was not affected by this debacle in the slightest, albeit it did cause a dip in overall trading volume.
Despite Poloniex being back online, though, the trading volume has not gone up again. Instead, it seems to dip even further on a daily basis, with 815,861.67 ETH traded yesterday. It is not the first time the volume dips so low this week, though as only 465,471 ETH was traded on June 6.
Speaking of Ethereum exchanges, Kraken and Bitfinex are doing quite well too. GDAX and BitTrex have a lot of catching up to do in this regard, as they are both well behind the top three. Then again, GDAX and Gemini are doing quite well in terms of ETH/USD volume, so it is good to see a bit more competition in the field.
Trading against the Chinese Yuan is still not overly popular, as nearly all of the volume is originating from Yunbi. That being said, there was a slight peak yesterday, as the volume surpassed 25,000 ETH for the first time in a week. It appears as if Chinese traders are far less interested in ETH once the volatility dies down.
Source: CryptoCompare
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