ETH (Ethereum; also called “ether”) has a bright future ahead. In May this year, it was predicted that the currency will touch the $500 mark by the beginning of next year. Though the price has already significantly increased this year, indicators favor an upside direction.
Basis for Optimism
If we’re going to base it on block-chain data, there were 38,370 transactions on the first day of January. On May 17, transactions grew to a whopping 140,135. That translates to about 262% growth. Based on this trend, it is not really hard to imagine that by the end of the year, growth in transactions will be another 200 to 250%.
Cryptocurrencies are taking the financial market by storm. They are like social networks. They have incredible strong network effects. Like the Bitcoin, Ethereum will continue to grow, and as its adoption grows, its value will grow exponentially.
At the time of this writing (at 3:05 PM, August 24, 2017), the price of Ethereum was exactly $319.612130. It was fluctuating almost every second with an average increase of 0.90% for the day.
Highest value recorded at the time was $320.463318 and lowest was $315.744756. The 24-traded volume was put $474, 441,210. There were already 94.20 million of Ethereum coins traded with the market cap put at $30.11 billion.
ETH Price History Chart
We start out with the presale price. The presale took place from July 22 to September 2 of 2014. The price was initially set to a discounted price which was 2000 ETH coins to a bitcoin.
It stayed that way until it linearly declined to a closing rate of 1337 ETH coins per bitcoin. The sale would last 6 weeks, culminating at exactly 11:59 on the night of September 2.
On the 4th day of January 2015, ether price was at $0.727. In June of the same year, it crossed the $1 mark and the $2 in July. It would later decline in value and rebound again in the beginning of 2016 touching again the $1 mark.
On March 07, 2016, the currency was recorded to be at $10.33 and reached $11.633 just three days after. On June 16 during the DAO attack, ether was valued at $19.643. On Oct 4, it was valued at $13.366.
The year started spectacularly for the currency. On the 4th day of January, ether’s price was at $10.44. The period was the beginning of the currency’s miraculous climb.
On March 17, ether almost touched the $46 mark, but was placed at 50.466 nine days later. It was April 29 this year that it was recorded to be at 70.21. On May 19, it was at 111.3, then it increased to 163.005 three days after. Another three days passed, ether was seen to have breached the $194 mark.
On July 26, 2017, the currency achieved the $200 milestone.
The Advantage of Ethereum
Some experts have a wild guess of $700 – $900 as the yearend close price for ether, which is not impossible to happen.
Given that the perception on it is that it is a stable crypto and that it is supported by talented communities of developers who actively engage in creating value, it is hardly the case that ether will not increase before the year ends and with that kind of expected value to reach.