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Ethereum Unsuccessfully Trying to Reach $240

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ethereum price analysis

Largest altcoin ether (ETH) on Tuesday, July 7, is trading just above $237 on the BitXmi cryptocurrency exchange. Coin from the beginning of June can not overcome the psychological barrier at $ 250.

Ethereum

At the time of publication of this review, Ethereum capitalization was just over $ 26.35 billion.

Analysts at the BitXmi team expect resistance to increase at $ 239. Due to the lack of support, no breakthrough is expected today, although the activity of Ethereum network users continues to grow.

Recently, Daniel Ferraro from the IntiTheBlock team presented data from which it follows that the number of transactions with different amounts of cryptocurrency in the ethereum ecosystem exceeded 1 million per day.

This trend was the result of the activation of DeFi decentralized financial services market participants.

Ferraro blog notes:

Recently, the number of transactions on Ethereum has reached levels not observed since January 2018.

Ethereum chartsEthereum daily active

The daily maximum in the number of transfers was recorded on June 23. Then blockchain users completed 1.09 million operations.

At the end of June, the Santiment platform reported that the number of wallets sending and receiving tokens increased daily on the Ethereum network to 490,000.

At the same time, the record high activity of cryptocurrency holders has not yet led to an increase in the value of the coin. According to the analysts of the BitXmi team, the ether will not be able to make any sharp movements until the volatility of bitcoin is aggravated, with which ETH is 90% correlated.

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Disclaimer: Bitxmi News is a news portal and does not provide any financial advice. Bitxmi's role is to inform the cryptocurrency and blockchain community about what's going on in this space. Please do your own due diligence before making any investment. Bitxmi News won't be responsible for any loss of funds.

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