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Ethereum has long enjoyed the status of the world's second largest cryptocurrency in terms of market capitalization as per CoinMarketCap, until it has recently been taken over by XRP. But now, ETH has regained its second position and is recovering strongly in terms of price.
A few days ago, ETH was at a minimum while floating below the $ 100 threshold, but now, at the time of writing this article, the resource is around $ 151 as per www.coinmarketcap.com. This recent upturn shown by ETH has several investors breathing a sigh of relief. The bear race has continued for so long and the image of the criptos has been marked largely in the public eye because of that. This shot shown by ETH will put some ice on the mega fire spread by the market crash.
At the start of 2018, ETH floated above the value of $ 1,000 and since then the business has declined significantly. Here is the recent chart that shows the rise of the Eth from December 15 to today.
The decline in the price of ETH has also had several start-ups worried about their funding. Various projects have been seen firing employees in hindsight of the bear race that has been going on for quite some time. We saw the main development company connected with Ethereum Classic, ETCDEV, completely closed due to lack of funding. In hindsight of the bear race, the Etheneum-related development study, ConsenSys, also took into consideration the appearance of dismissing employees in order to expand its track. The startups that raised funds for their platforms in the ETH during the IOC boom are currently worried about their finances. Many investors have also lost a large amount of money. In the midst of the chaos produced by the market crash, this pick-up from the trenches that is under the $ 100 threshold will probably bring out some fresh air in the ETH ecosystem.
Although the resource is growing at the moment, nothing can be said for sure. Volatility has been linked to this market since its global explosion. One day the market is booming, the next day, it's in the dust. It remains to be seen if ETH is able to continue its rise to the top or not. Only speculations can be made, and even those have proven to be false in the past a lot of times. The greens turn red in a very short time in the nascent world of criptos. You must step on carefully.
SEE ALSO: "Another downward impulse is still very possible", crypt analyst Eric Thies
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