In the world of cryptocurrency, most eyeballs are glued to the top markets. That list encompasses Bitcoin, Ethereum, XRP, and perhaps Litecoin. As far as the Ethereum price is concerned, things are not looking bad nor good right now. A status quo is being maintained, as there is seemingly no interest to push the value up or down in a decisive manner.
No Ethereum Price Shift is a Good Thing
Weekends have always been rather peculiar when it comes to cryptocurrency market momentum. This weekend has been rather bullish for some markets, and resulted in a status quo for everyone else. Given how negative the past eleven months have been, a bit of stability is more than welcome at this time. It may not seem too appealing, but dealing with massive gains and losses in quick succession grows tiresome after a while.
Over the past 24 hours, there hasn’t been any notable change where the Ethereum price is concerned. A minor 0.2% loss in both USD and BTC value is nothing to be overly concerned about The value remains solid at just under $119. Maintaining control over the 0.0325 BTC level is a bit more challenging, but it appears this will sort itself out in the long run.
What is pretty impressive is how Ethereum continues to note a hefty trading volume, even during the weekend. With over $2.8bn worth of trades, this token is in very high demand. Although this hasn’t resulted in any major price shifts to take note of, it also shows there is still a demand for the token at the current value. This may also allow ETH to reclaim the #2 market cap rank over the coming days.
Some interesting news pertaining to Ethereum is making the rounds at this time. The ERC-1155 token standard will be integrated into the Enjin platform over the coming weeks and months. This is made possible thanks to a collaboration between Kriptomat and Enjin, which marks another impressive milestone for Ethereum as a whole. When this will be finalized exactly, remains to be determined at this time.
As has been quite apparent over the past few hours there is no Ethereum chart momentum to speak of. In fact, it has been about as neutral as it gets in crypto land. Not a bad trait by any means, primarily when keeping in mind the significant losses sustained over the past 11 months. A neutral sentiment is always better than a strong sell signal.
For the time being, it seems Ethereum is more than capable of holding its own. That in itself comes as a bit of a surprise, as the year 2019 wasn’t off to the best of starts for this token either. However, there may be some genuine long-term momentum brewing as of right now. Long overdue, in the minds of the many, albeit it is still too early to draw any real conclusions.
Disclaimer: This is not trading or investment advice. The above article is for entertainment and education purposes only. Please do your own research before purchasing or investing into any cryptocurrency.
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