Ethereum’s (ETH) Price Holds $168 Support Amidst Historic Oil Dump

Ethereum’s (ETH) Price Holds $168 Support Amidst Historic Oil Dump

11:28 - 21/04/2020


In brief: The price of US Crude oil fell hard to $0 with its futures contracts going as far down as $-40. The once in a lifetime event, shook the crypto markets with Bitcoin (BTC) going back below $7,000. At the time of writing this, the price of Ethereum (ETH) is holding the $168 support zone. Analysts across the world have constantly been calling for a recession but no one was prepared for yesterday’s (April 20th) price action of US […]

What is the Ethereum?

Ethereum and its currency, Ether, is now ranked third in the most popular cryptocurrency, behind Bitcoin and Ripple.

Ethereum was founded in 2013 by a 19 year old Russian-Canadian computer scientist, Vitalik Buterin. Launched on July 30, 2015, Ethereum, the platform that supports the Ether, has seen a sharp increase in its value since March 2017, passing the $ 500 mark at the same time that Bitcoin spent $ 10,000.

The strength of the Ethereum, otherwise comparable to Bitcoin, is based on its blockhain, the technology on which it is based. This enables smart contracts, or smart contracts. Some argue that it could be even more revolutionary than artificial intelligence, radically modifying and improving the way in which all transactions take place. The Ethereum blockchain could be no more or less than a substitute for notaries, lawyers or others by playing the role of “trusted third party” in a transaction, and by putting in place in seconds a flawless contract, much more effective than a human.