Cryptocurrencies

Ethereum (ETH) from October 23 to 30, 2020

Ether (ETH) opened on October 23, 2020 above $ 410. Its price has corrected by more than 7% in one week.

Nonetheless, ETH still wins the battle against the other major cryptos. He is leading the race this year.

Ether on the top of the podium

The Chief Market Analyst Ava trade, who also shared his analyzes in Forbes, indicates thatEthereum performed better than Bitcoin (BTC) and Ripple (XRP) this year.

TheEther exploded 206% from the start of the year until October 27, 2020, Bitcoin recorded a gain of 82% over the same period, and Ripple experienced a 30% increase. TheEther is trading at 381 USD as of this writing.

He would therefore be ahead Bitcoin and this even if Anthony Pompliano indicated that Bitcoin has exploded by 300% since its collapse in March 2020.

TheEther broke through the $ 400 mark this week before experiencing a pullback. The miners are optimistic that they have not sold their ETH while its price exceeded 420 USD.

The DeFi is making its comeback while it experienced a slowdown during the first 3 weeks of October 2020.

We continue the ETH vs BTC game

Data from Glassnode of October 27, 2020 show that miners’ income from transaction fees increased 22.25% in the space of 24 hours.

These fees had nearly tripled in 3 days, from an average of $ 3.52 to $ 10.20. Ethereum however, remains the most profitable for miners, in terms of income relating to transaction costs. DeFi blew up the gas on the network

TheEther also ahead Bitcoin in terms of numbers on another ground – which is not necessarily positive for theETH-.

Almost a quarter of Ethers in circulation are held by 10 centralized exchanges. Coinbase alone sits on 8,521,807 ETH, or 7.5% of the supply in circulation.

Only 8.1% of the supply of Bitcoins in circulation are held by exchanges. The statistician Willy woo reported in early October 2020 that a small percentage of BTC on exchanges is a bullish signal.

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If DeFi does restart, gas is likely to increase further, the price of Ether could take the opportunity to rise above $ 400 – maybe even more. ETH is on track to receive the award for best crypto of the year. A major breakthrough in Ethereum 2.0 would double its chances of getting this trophy.

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