ETHUSD

Ethereum's (ETH) price continued a sideways movement on Thursday as the market still awaits a trigger. Ethereum isn't alone in this horizontal trend; several major index funds have also traded sideways, underscoring ETH's positive correlation with the traditional financial market.

Despite the recent launch of spot Bitcoin (BTC) ETFs in the US, Ethereum's correlation to the traditional market has soared above that of BTC, according to data from The Block. Compared to BTC, Ethereum showed a high correlation to indices like the Nasdaq 100, S&P 500 and Dow Jones Industrial Average. This can be seen in Ethereum's recent price action, which has traded horizontally in tandem with these indices.

While ETH's price stagnates, whales are making moves behind the scenes. A participant in its initial coin offering (ICO) came online to sell 2,000 ETH for 6 million USDC at $2,997, according to Spot On Chain. The whale bought 33,213 ETH at $0.31 during the Ethereum Genesis ICO. Since then, the whale has sold 5,110 ETH and still holds about 29,700 ETH across three wallets.

Ethereum (ETH) is a decentralized blockchain network that hosts the cryptocurrency Ether, which acts as a 'fuel' for decentralized apps on the network. Since it launched in 2015, Ether has quickly rivalled Bitcoin as one of the world's most valuable cryptocurrencies in terms of market capitalization. The chart gives a full picture of the ETH/USD live price. You can also find the latest Ethereum news, forecast and expert analysis to help you trade this cryptocurrency more consistently.

Comment:

ETHUSD UP TRADE TP 1 PIPS 160 IS RUNNING HITS

Comment:

Gbpusd 👇 safe
Running up to well up to plan