The Ethereum platform went live on July 30, 2015 and started the first transactions. Within a month, Ethereum was selling for between $1 and $3. In late August, the price stabilized around $1, which remained stable until the end of the year.
So what situations affect the price of Ethereum (ETH) today?
Ethereum is the cryptocurrency with the largest market cap after Bitcoin. In this respect, we can say that the factors affecting the price are the general course of the crypto money sector. In other words, the explanations made about crypto coins and the regulations brought by the countries are in the lead. Considering that Ethereum’s correlation with Bitcoin is above 0.9, every positive development made about Bitcoin affects the Ethereum price to a greater or lesser extent.
One of the factors that should be followed specifically for Ethereum is the DEFI ecosystem in this period. Since many of the developments made by DEFI use the Ethereum infrastructure, the size of the crypto coins sent here increases the value of Ethereum. For this, defipulse.com can be followed. In addition to this, the amount of Ethereum is also important in addition to the total value that is locked. Here we can follow those who have made long-term investments in Ethereum. At the beginning of the long-term investors, we can say that Ethereum sent for ETH 2.0. When we look at those who invest without knowing the ETH 2.0 time and trusting it, we see that the amount exceeds 3 million Ethereum. This shows the confidence of ETH v2.0. Ethereum is one of the crypto coins on which the blockchain analysis is made. The amount of wallets here and the amount of Ethereum held in these wallets indicate whether investors are buy-side or sell-side. The accumulation of Ethereum on exchanges means that investors can sell their Etherum at any time, while the amount held in wallets shows a long-term positive outlook.
It is also possible to observe the Ethereum held by miners from chain analysis. Although the market comes back after the sale of the miners, the upward movement continues as the amount of selling decreases. The selling appetite of miners can be followed in this respect. The blog of its founder Vitalik Buterin, which comes to mind when it comes to Ethereum, must be followed vitalik.ca. Although it is a bit technical, when the general logic is understood, it is important to know that
Ethereum 2.0
is still actively developed in terms of the continuation of the developments. At this point, Vitalik Buterin’s Twitter account also needs to be followed.
