Current Informative Summary of Ethereum (ETH)
Price and Market:
Current Price: The price of Ethereum (ETH) has shown notable volatility. In the last 24 hours, it has experienced significant changes. Prices vary by platform but are around $4,550.40 USD or €3,995.12.
Volatility: Recently, Ethereum has had price movements with considerable fluctuations, reflecting the dynamism of the cryptocurrency market. It has risen by 8.58% in the last 24 hours, but has also shown declines in shorter periods.
Market Capitalization: With a market capitalization exceeding $548.4 billion USD, ETH maintains its position as the second-largest cryptocurrency by market cap, only surpassed by Bitcoin.
Circulating supply: The circulating supply of Ethereum is approximately 120.71 million ETH.
Recent News and Trends:
Recent performance: The performance of ETH has been positive in the medium term, with a 22.34% increase in the last month and an impressive 64.57% in the last year.
Market sentiment: There is notable optimism in the market, with analysts suggesting significant growth potential, and even some projecting that ETH could double its value in the near future, reaching $10,000 USD.
Bitcoin whales: It has been reported that large investors (known as "whales") are exchanging their Bitcoin holdings for Ethereum, which could be driving the price of the latter.
Macroeconomic events: The recent conference by Jerome Powell in Jackson Hole and his comments on economic policy have positively influenced the cryptocurrency market, with ETH experiencing a significant rally.
Network Development:
Transition to Proof-of-Stake (PoS): Ethereum continues its transition to Proof-of-Stake (PoS) consensus, a process aimed at reducing energy consumption by 99% and making the network more efficient. This upgrade aims to lower transaction costs, decrease network traffic, and facilitate more complex operations.
Decentralized applications (dApps): The Ethereum network has seen massive growth in the number of active users of decentralized applications (dApps), reaching a historic peak of 1.25 million in the second quarter of this year, largely driven by the growth of decentralized finance (DeFi).
Token standards: Ethereum remains the main platform for token creation, with standards such as ERC-20 for fungible tokens and ERC-721 for non-fungible tokens (NFTs), which continue to be widely used.#ETHBreaksATH
