Categories: CryptoNews

Ethereum Price Surpasses $710 Thanks to Solid Overnight Gains

Today is proving to be a rather interesting day for most cryptocurrencies Although there seems to be a tug-of-war between bears and bulls right now, the Ethereum price is trending up ever so slightly. Thanks to some solid overnight gains, the value per ETH is trying to reach $720 once again. Holding on to that price point will be quite challenging, for obvious reasons.

Ethereum Price Climbs Above $700

It has not been the best start of the year for the Ethereum price. In fact, one could argue the first few months of this year have been pretty bearish for the Ethereum price, although the same can be said about all other cryptocurrencies at this stage. Whether or not the Ethereum price can continue this uptrend for much longer, is always a topic of debate.

In the past month, we have seen the Ethereum price from just under $400 all the way to $720. It is a remarkable growth, although we are still a long way removed from the all-time high ETH value of over $1,200. Reaching that value again will not be easy whatsoever, even though it is not impossible to achieve that value later this year. It will heavily depend on how the Bitcoin price evolves, but so far, it doesn’t seem as if any miracles should be expected.

Thanks to another 5.36% gain over the past 24 hours, the Ethereum price appears to be in a good place right now. Although there is still plenty of room for growth and profits, the short-term picture seems pretty promising. From a long-term perspective, it seems this slow and steady uptrend will continue for quite some time, although there will be a few hurdles along the way. Nothing can rise in value indefinitely. especially not in the world of cryptocurrency.

Related Post

Thanks to $3.09bn in 24-hour trading volume, the demand for Ethereum is not slowing down by any means. Although the trading volume is a lot lower than people might want it to be, it has become apparent other currencies go through similar struggles as well. If this volume remains at this level or perhaps manages to increase a bit, we will undoubtedly see more Ethereum price action moving forward.

The way things stand right now, Bitfinex is the biggest exchange for Ethereum trading volume. It has a substantial lead over Binance and Huobi. OKEx’s USDT and BTC pairs complete the top five, with all pairs generating $110m in volume or more. There is only one fiat currency pair in the top five, though, which is a bit worrisome at this stage. Even so, it doesn’t seem to hinder the Ethereum price momentum all that much.

How all of this will look in a few days from today, is impossible to determine. The Ethereum price is doing a lot of things right, but most people would love to see things pick up the pace sooner rather than later. With Bitcoin’s value also going up at the same time, the coming few days will be pretty interesting to keep an eye on. If the Ethereum price can remain above $700 for the remainder of the week, future gains will remain on the horizon.

JP Buntinx

JP Buntinx is a FinTech and Bitcoin enthusiast living in Belgium. His passion for finance and technology made him one of the world's leading freelance Bitcoin writers, and he aims to achieve the same level of respect in the FinTech sector.

Share
Published by
JP Buntinx

Recent Posts

Best Altcoins to Invest in Today: Qubetics Sets the Stage for Blockchain’s Future as Bitcoin Hits $108K and Litecoin Soars

The cryptocurrency world has always been a hotbed of innovation, attracting both seasoned investors and…

3 hours ago

Dogecoin Millionaire Predicts This Undervalued Altcoin Could Match DOGE’s 2021 Gains

Dogecoin's 2021 rally was a historic one, turning ordinary investors into overnight millionaires. This magnificent…

4 hours ago

Qubetics Presale Skyrockets to $7.5M as XRP and Arbitrum Lead Best Altcoins for Exponential Returns

The crypto market is always evolving, with big names like Bitcoin and Ethereum leading the…

4 hours ago

Over 300K Users Actively Mine Crypto On BlockDAG’s X1 Miner App While BNB Bulls Eye $3K; What’s XRP’s Price Target?

The crypto market is ablaze with excitement as altcoins like XRP and BNB make major…

5 hours ago

Best Crypto Presale To Buy Now: Rollblock Delivers For Holders With New License, Record Sign Ups and 7000+ Games

Rollblock is quickly becoming the best crypto presale to buy, delivering unmatched value for its…

8 hours ago

Polkadot And Uniswap Gearing For Post-Christmas Jump As Rollblock Raises $7.4 Million in Presale

While Rollblock's continues its crypto presale, with its value increasing regularly, Polkadot (DOT) and Uniswap…

9 hours ago