RATE Group | Ethereum Price Claws Its Way Back to $300 as Market Adds Billions
38935
wp-singular,post-template-default,single,single-post,postid-38935,single-format-standard,wp-theme-bridge,wp-child-theme-bridge-child,ajax_fade,page_not_loaded,,qode_grid_1300,side_area_uncovered_from_content,footer_responsive_adv,qode-content-sidebar-responsive,qode-child-theme-ver-1.0.0,qode-theme-ver-13.3,qode-theme-bridge,wpb-js-composer js-comp-ver-7.9,vc_responsive
 

Ethereum Price Claws Its Way Back to $300 as Market Adds Billions

15 Aug Ethereum Price Claws Its Way Back to $300 as Market Adds Billions

Posted at 21:25h in Ethereum News by

[ad_1]


ethereum price lion

The ethereum price clawed its way back to $300 on Wednesday as the wider cryptocurrency market experienced a double-digit recovery.

Ethereum suffered a colossal sell-off during the early part of the week, dipping as low as $249 on Monday and leading many to wonder whether the second-largest cryptocurrency’s status as a launchpad for initial coin offerings (ICOs) made it particularly vulnerable to the effects of the bear market.

However, ETH roared back to life on Wednesday, rising an eye-popping 17 percent to lead the surging large-cap index. By 16:00 UTC, the ethereum price had cracked the $300 level, and it continued to trade at that mark when this article was written at 17:30 UTC.

ethereum price
ETH/USD | Bitfinex

There does not appear to have been a specific trigger to the recovery, other than the fact that the market was perhaps oversold earlier in the week. That said, the rally correlated with the issuance of $120 million worth of new tether tokens (USDT) between Tuesday and…

[ad_2]

Source link