Yesterday, June 19, Ethereum breached its all-time high. The price increased by over 300% since it’s all-time low in January. Many investors are wondering how long this bullish run will last. Ethereum is currently in a bearish trend and the price will soon start to decline back to its previous levels. However, there is still a chance that Ethereum can recover and reach further heights.
With an almost record-breaking run to an all-time high, it’s now certain that Ethereum has topped $200,000. The price of ether, the cryptocurrency that powers the Ethereum network, has been skyrocketing over the past few weeks. And it seems the run to a new all-time high is not over yet.
Ethereum is currently trading at $305.45, and is expected to reach its all time high of $396.36 on June 25th. To put this into perspective, Ethereum went above $300 for the first time on April 10th, and has been on a steady climb ever since. The current all time high is $396.36, which is more than 60% higher than Ethereum’s price on February 8th, 2017.. Read more about ethereum news and let us know what you think.
Ethereum is an open-source, decentralized blockchain technology with its own money, Ether. ETH just hit an all-time high of $4375 on May 9th, 2021. The investors were unsatisfied with this ATH confirmation, as the price fell by 56 percent the next week. Furthermore, the market reported the value of ETH falling to $1880 and a low of $1728. To be sure, Ethereum has recovered $2000, but the market remains negative.
Furthermore, as of June 25th, all crypto investors and experts anticipate Ethereum to reach its ATH certification. In three days, the second Quarterly Ethereum Options will expire, causing a surge in interest among crypto investors and consumers.
The Current State of the Ethereum Market
The current price of Ethereum is $1,740.07, according to CoinMarketCap, with a 24-hour trading volume of $31,951,795,09. In the market, ETH is ranked second. In addition, in the past 24 hours, Ethereum has lost 12.95 percent of its value. This shows that the Ethereum market is continuing in a negative trend.
According to the global open interest in ETH, 645K+ ETH options are expected to expire on June 25th. These ETH options are worth more than $1.5 billion in total. As of June, the total value of all ETH expiration is estimated to be $3.6 billion. Furthermore, the 2nd Quarterly Expiry is 33 percent greater than the first Quarterly Expiry, which occurred on March 26th, 2021.
Will Ethereum be a Bull or a Bear?
However, the market’s momentum and value indications for Ethereum still indicate a negative signal. Crypto expert, on the other hand, claims that there are a lot of call options at $2,200 with higher strikes. This implies that when the expiration comes, the current ETH price must rise to $2,200. Because the crypto market is unpredictably volatile, price fluctuations are to be anticipated.
As a result, all cryptocurrency investors and users should keep a close watch on this next quarterly expiration. The expiration event has the ability to modify the values. As a result, the bullish/bearish market structure of ETH remains a mystery for the time being. As a result, the second quarterly expiration must be successful in moving Ethereum ahead in the market.
For you, we recommend
No one expected Ethereum to be as successful as it has been. Last week, ETH was trading at $245 and today, June 25th, it’s trading at $286. In the short term, Ethereum has continued its dominance over ERC20 token prices; currently, over 35% of all tokens are on Ethereum.. Read more about ethereum expiry and let us know what you think.
This article broadly covered the following related topics:
- ethereum 25 june 2021
- ethereum option
- top altcoins for 2022
- top crypto for 2022
- eth option 25 june