With this post we will seek to expose the recent behavior of the virtual currency Ether and the development of its company, Ethereum.
Ether suffered the impact of the pro-regulatory positions on the part of the governments of the world, just as its crypto-divided sisters, suffered a price drop due to nervousness of the owners.
By this we mean that the investors and owners of active crypto felt threatened by statements such as those of the South Korean Minister; as we exposed in another post. This caused them to want to transform their digital values into liquidity, that is, a mass sale of ethers occurred, flooding the market and dropping the price of the digital currency.
According to data from Coinbase, one of the main data analysis pages in the United States, it is estimated that the fall began on January 28 of this year with its highest recent peak, with a value of 1 ETH = US $ 1,200 approximately. This fall lasted about 10 days, but with a fall of almost 50% of its highest value, raising its lowest value in the current quarter, being 1 ETH = US $ 600 approximately.
But like every recession, it has a point that stops falling and starts to rise, this being also the case for cryptocurrency and Ether, giving rise to a rise in prices.
It should be noted that it is not as pronounced as its growth in the last quarter. Ether currently trades at 1 ETH = US $ 945, recovering slowly but surely.
The tranquility in the market is related to the clarifications of governments to their positions, such as South Korea, stating that they do not want to prohibit cryptocurrencies, but their possible regulations to protect society are discussed.
In addition, the announcements of large companies such as Walmart, Telegram, Amazon and more, cause an idea of confidence in the future.
In the graph below you can see the evolution of the ETH in the last month.
Being one of the pioneer and most influential projects in the cryptocurrency market, Ethereum does not decelerate at any time, seeking to improve not only its currency, but the technology behind it.
According to statements by its creator, Vitalik Buterin, Ethereum is more than just a cryptocurrency, it is a technological revolution. Its objective is to develop and improve blockchain technology, intelligent contracts and autonomous systems.
The innovation and importance that the company has had can be seen in a large number of our posts, where we announced that several companies use the same Ethereum technology to optimize their processes, even creating their own virtual currencies based on Ether.
Due to the historical development of Ether, it can be said that it is one of the most stable virtual currencies currently and the most valuable, that is, it is not as volatile as its older sister Bitcoin, but the market is still relevant.
It is currently in a boom period and does not seem to be close to another recession, but we want to remember that it is still influenced by external agents. It could be that future regulations that countries wish to apply cause another impact, which could be positive or negative, is unpredictable.