Ethereum Nears $350 – Trustnodes

Ethereum Nears $350


Ethereum nears $350, July 2020

Ethereum is up by about 8% today on huge unfiltered volumes of $11 billion with it reaching a market cap of nearly $40 billion and a price of $342.

The world computer has processed 1.25 million transaction, its highest level ever since the peak of about 1.35 million.

An experiment is also ongoing half a decade on since the scaling debate in regards to miners setting capacity, in this case the gas limit, which they are voting to increase.

About $1.2 billion worth of eth was moved on the blockchain in the past 24 hours, just 3% of its total market cap.

That doesn’t include all the tokens running on eth which make up about 700,000 transfers a day, with ERC-20s now reaching a market cap of $33 billion.

They performed $30 billion in volumes in the past 7 days, but $27 billion of it is just tether according to Santiment, a blockchain analytics company.

Thus if we include tether, ethereum is transferring about $5 billion a day. If we exclude it, then it is about $1.5 billion a day of total value moved on-chain.

Those are big numbers for a five year old network which is once again leading the space in price action.

For a few days bitcoin tried to take the show, with that ping pong between the two now maybe back as both are pushed up or/and push up the other coins as well.

The total crypto market cap has now reached $330 billion, not even 1/3rd of Apple. It can 10x, according to Ark Invest, to $3 trillion.

Trump is doing his part with more helicopter money coming after the governors crashed the economy by some 40% in the first half.

Germany saw only -10% with that country too a federation, but there it seems the governors utilized a bit more common sense.

UK is -25%. Now they’re implementing some other measures on Manchester where you shouldn’t meet other people in their homes, but there’s some sort of confusion on whether you can meet them in the pub.

Not that anyone can keep up with all these new rules they make along as they go, with most people turning off their TV some months ago.

For there’s an eth show on, and it is up by $3 while this article was being written to now $345.