For the first time in 2020, the price of Ether (ETH) has risen to 225 USD beating Bitcoin as the market becomes even more bullish for Ether and the attention of investors is glued to this digital asset despite the losses from last year. At the time of publishing, Ethereum bulls are in the steering position.
When we consider the weekly chart, Ethereum has been at the same level as Bitcoin and it is also important to mention that looking at the technical side of things, Ethereum prices are beyond the 20 weeks moving average. The trading volume, as well as the attitude of Ethereum investors, has also demonstrated the strength of the crypto asset recently. This notion is backed up by numerous tweets by crypto investors. A former hedge fund manager stated that even though crypto assets are very risky, however, the price changes have made him very positive for the crypto market. He especially highlighted the progress of Ether as well as Bitcoin and stated that once those two coins break the psychological barriers, the market will be ruled by bulls only.
Despite the price increases, there were also other milestones that Ethereum hit, finally, in over two years the value of Ethereum assets in DeFi applications hit the 1 billion USD mark. This is a very significant shift for the financial sector and it is only going to continue as the software we use improves.
A number of crypto investors believe that Ethereum will grow to become a reliable store of value such as gold, however, even more flexible. The demand of Ethereum is increasing and its price is aiming for 300 USD.
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