Cryptocurrency

Ethereum course before a 200% rally? The Ethereum network achieved a significant milestone

Since the all-time highs that were reached in early 2018, broke the Ethereum rate dramatically. From the highs at 1,430$ the Ethereum rate declined by about 85% and is currently trading 242$.

Despite the complete collapse of the market for the underlying network of Ethereum has experienced a dramatic growth. The latest data now show that the number of Ethereum accounts has exceeded an important milestone.

Ethereum addresses to reach the 100 million

According to Ryan, Sean Adams of the myth of Capital, the number of Ethereum addresses on last week 100 million – just five years after the Start of the network. However, the existence of 100 million addresses, it does not mean that 100 million people have used this crypto-currency. This milestone, however, shows that a growing acceptance is taking place, albeit perhaps more slowly than some expected.

Adam wrote on this topic:

The world will be forced powers to adapt. This is the next wave of the Internet. 100 million Bank loose Bank accounts.

Adams‘ observation concurs with the opinion of Spencer Noon, the head of the Crypto investment Fund DTC Capital. He believes that the Ethereum course merges into a bull market. For this opinion, he performed a total of 10 arguments in favour of it, that Ethereum is currently undervalued. Some of them were the following:

The number of daily active ETH addresses recently reached a two-year high – the highest value since the upturn in 2018.The Miner of Ethereum to collect a tremendous amount of fees.On Ethereum-based applications for Financing to begin to absorb vast amounts of value.

That Ethereum has reached the milestone of 100 million accounts, is due to a number of sub-flows, which are driving the use of the network in the amount, such as, for example, the growth of decentralised Finance (DeFi) and the stable coins.

Ethereum course is, from a technical point of view, also on an upward trend

The technical Trends of Ethereum are bullish.

Josh Olszewicz from Brave New Coin announced this weekend the diagram below. It shows that the Ethereum rate is entered for the first Time ever in a key Ichimoku Cloud resistance.

Olszewicz pointed out how the Ethereum rates will recover in a so-called “End-to-End movement,” probably to the other end of the resistor. More specifically, he said:

A-weeks-Chart of Ethereum. End-to-End up to$ 750 trigger, probably within the next few months.

According to Olszewicz, the specialist for the Ichimoku Cloud analysis is, is the way of the cloud, probably as a “price magnet” that pulls the Ethereum rate of 750$. Such a step would mean that Ethereum has followed 50% of the “established range” and at the same time, “Dow theory,” met.

Similar to optimistic Dan Tapiero, the CEO of DTAP Capital, divided on 3. June with that of the Ethereum course “is on the verge of an explosive upward movement”. He noted how the crypto-currency is in a down trend break out the stalls, the price action in the last year, from the highs of 2019 up to the maximum in 2020, and the disabled.

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About the author

Eve Manning

Eve Manning

A native Texan, Eve first started out as a Finance Analyst and later realized that her true passion was not in trading but in writing. She leverages her experience in the Finance industry to analyse and write in-depth news articles covering the Cryptocurrencies, Economy & Finance industries.

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