Ethereum the currency based on smart contracts, has once again become the second second largest cryptocurrency by market capitalisation.
In the past few weeks, we have seen there is continuous shuffling of cryptocurenncy rankings. we recently noticed there was new entry – TRON in the top 10 cryptocurrency markets. Ethereum 24 hour market volume was whooping 2.1 billion us dollars with major exchanges trading being – OEX Exchange and ZBG Exchange. The current market cap of ethereum is 12 billion usd.
If we look at the past few trading days, there has been surprise surge in the price of ethereum currency, there has been 25% surge in the price.
This price movement has started changing the sentiment of crypto trader and holder, from bear to bullish. If this upward movement continues we may be able to see the same price trend, that we have seen in the the month December 2017.
If the sellers step back and there is continuous rise in the buyers, we will be able to see the upward trend in the market. The typical demand supply ratio governs the prices of cryptocurrency which may also be affected by the government regulations, legalities, innovations and trust factor.