Ethereum: Record Contraction, September Levels, and New Criticism

The second cryptocurrency in the market is coming back to the fore due to its advance in the market in the past week, especially due to the downturn that continues to set records making it a desirable and sought after asset by investors.

With Shanghai approaching, and widespread criticism of crypto assets in general and cryptocurrencies in particular, Ethereum was presented this week as one of the top bigs, with developments that bring them back to levels not recorded in value in the past five months, Since last September, at that magical level of $1,700 per asset.

A place where Ethereum He starts to feel very comfortable mainly due to the fact that he is in the moment Courtesy of the economic reality, which is becoming more complex, it has a greater appetite for risk among investors, after more than a strong live correction.

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In fact, last week, there was an 8% revaluation in the market, with a gain of 5% in the last month, which has become an impressive progression in the quarter, from 48.69% realizing, So far this year, a gain of 40.4%While it lost 35.5% on an annual basis.

As for the criticism, the latest to hit the market was framed by a vice president of Berkshire Hatthaway. Charlie Munger went so far as to point this out Cryptocurrencies can be stupid and even dangerous And that governments can’t allow them. He has come to call them “coded shit.” And the last to join is the creator of the Internet. Tim Berners-Lee considers these purely speculative assets, without any connection. In fact, the “game of chance you don’t want to participate in” qualifies.

Among those who have succumbed to its technology is Actor Keanu Reeves, one of Hollywood’s greats, but also independent, In addition to the million dollar exchange contracts with movie stars. It confirms that the ideas behind Cryptocurrencies are incredible, as is their great potential for distributing resources. Although it is considered that his protection It is necessary to identify weaknesses in the industry and increase its innovation.

Regarding its development, the record contraction that is increasing day by day that Ethereum records after the move taken with the change in “merger” or “consolidation” stands out without a shadow of a doubt. In fact, the circulating supply of Ethereum as we can see in the image is 120.49 million, with a decrease of more than 30,800 159 days after the event. For market experts, as indicated in their tweets, this means accelerating their market capitalization, With a good effect on the supply / demand dynamics.

In terms of capitalization, we find Ethereum positioned between Cisco Systems and Reliance Industries in all caps Which exceeds 205.000 million dollars In the global market, it is ranked 53 among the assets and companies worldwide, ahead of McDonald’s oh. All this while its position ahead of the rest of the cryptocurrencies represents 17.2% of the 1.17 trillion in its entire value. We are talking about more than 12,290 that are on the market.

In the Fear and Greed Cryptography Index, we find that, It reaches the level of greed, 60, against 58 yesterdaya significant improvement over last week, when it was in neutral mode.

Regarding the Premium Force indicators that are investment strategies, we find a decisive change, as they move from weak to strong in their current situation, after February 14, in the medium and long term, with operations to break resistance and buy at support, as well as the risks of accumulating excesses and numbers bearish.

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