Ethereum Value Holds Above US$18 Despite Bitcoin Dip

Albeit Ethereum has lost a small portion of its value; the cryptocurrency is still worth more than US$18. That is rather unexpected, as ETH peaked at slightly over US$19 yesterday. Despite what most people had anticipated, the value did not decline by much, albeit USD trading seems to be going through a rough patch right now.

Ethereum Continues Strong Trend For Now

Yesterday was a very good day for Ethereum enthusiasts, as the trading volume exploded across all the main markets. ETH was doing quite well against Bitcoin, USD, and EUR,  all of which attributed to the price surge which peaked at roughly U$19 per Ether. Ever since that time, things have calmed down a bit, and trading volume is returning to lower levels.

Especially in the USD market, things are looking a bit lackluster right now. Yesterday was an exceptionally strong day, though, with over 600,000 ETH changing hands against the US Dollar. This trend started a few days ago and showed incremental increases for the past three days. Today, however, the volume is down by quite a margin, as just under 70,000 ETH has been traded so far.

Bitcoin trading volume continues to dominate the Ethereum market, with over 65% of all daily volume. The ETH/BTC market is still holding its own as well, as the value sits at 0.02717 BTC per ETH right now. In fact,  this is a near 3% increase in the past 24 hours, but due to the dipping Bitcoin value, the USD price per Ether has dropped as well.

After the near-record volume across EUR markets yesterday, it looks like not too much action will be taking place today. Under 10% of yesterday’s Ethereum trading volume has been changing hands today, and we are getting close to noon. This lack of volume is not diminishing the Ethereum price, though, which is positive news.

Interestingly enough, there is a resurgence of Litecoin trading volume in the Ethereum market as well. Although these numbers are relatively small, Litecoin wriggled its way into the top five of Ethereum trading markets again. This is quite an interesting development, although this market’s volume has pretty much dried up today.

Source: CryptoCompare

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