Ethereum: In-Depth Overview – Trade Ethereum in India
Ethereum: In-Depth Overview – Trade Ethereum in India Everyone knows that Ethereum is the 2nd biggest cryptocurrency after Bitcoin, but there’s a catch! ETH is not just a currency. It is more than that. Let us discuss what Ethereum is and what makes it unique?
P C Joshi
What is Ethereum?
Ethereum is a blockchain platform with its cryptocurrency called Ether. It also has a programming language called Solidity. It is a blockchain network that enables people to create decentralized applications. Its decentralized public ledger allows people to verify transactions and record them. Ethereum was built to enable developers to create decentralized applications (dApps) without the risk of fraud, interference, or downtime.
Ethereum is a programmable network that enables people to buy and sell digital commodities, such as games and apps. Like any blockchain, Ethereum is a database that is designed to be secure. Ethereum is a blockchain that enables developers to create decentralized apps and games. Its decentralized nature makes it ideal for developers wanting to create secure and commercial apps.
Price History of Ethereum
1 Ethereum was worth $4,160 in May 2021, and presently 1 Ethereum = $3,500, but have you ever wondered how Ethereum reached these new highs. Let us discuss the price history of Ethereum. Ethereum has one of the most volatile trading histories among the class of assets. It rallies and crashes very frequently. Ethereum is that asset in which double-digit incline and decline of its prices are very common. But how Ethereum started gaining so much popularity? Let’s find out.
In the initial days, liquidity was very low. There were only a few investors in the cryptocurrency market, and there were many price fluctuations. When Ethereum was found, its price was $0.71, and the first significant price change in Ethereum was in Feb 2016; it was trading at $6. 2017 was a decider in the history of Ethereum’s price.
At the beginning of 2017, it traded at $10 and then rapidly shot up to $70 by April. It re-accelerated with the same pace and went to $717 in December 2017. This intense bull run attracted numerous investors and helped Ethereum to gain the #2nd spot in the Crypto world.
The major event that created headlines and made Ethereum the centre of attraction was the price bubble of 2018 when it was trading at a $1366 all-time high. April 2018 to March 2020 was a rough patch for the Ethereum investors as the price was utterly moving in a range. By the mid of March 2020, the price already fell to $260.
But the table turned in 2020; the stock market crashed due to the pandemic; the Ethereum price is touching sky heights. A majority of people started to invest their money into cryptocurrency. From that time, the whole Crypto market rebounded from the loss and continues to make newer heights.
Ethereum and the cryptocurrency market are emotionally driven; any news or event in the outside world adversely affects the price. But what has happened in history will help us figure out how Ethereum will perform in 2021.
The easiest way to invest in cryptocurrencies is by choosing a cryptocurrency exchange. This process involves four key steps. Aside from selecting a cryptocurrency exchange, there are also various ways to invest in Ethereum.
To trade or sell Ethereum coins, you need to open your account with any Crypto exchange. You can buy Ethereum on various crypto exchanges and can convert them into any other Cryptocurrency. After buying, you can also transfer your Ethereum to your wallet and keep your private key safe. Traditional (fiat) currencies can be used to convert and accept cryptocurrencies.
P C Joshi