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Ethereum volatility on yearly high: Where is it headed?

Ethereum volatility on yearly high Where is it headed

Ethereum volatility is fairly high since the cryptocurrency is going through a fairly difficult time so to speak. Ethereum foundation recently missed an update deadline which was actually the next step towards the Proof of Stake (PoS) system.

The speculation in the cryptocurrency sphere says that the recent rise in Ethereum price can be linked with the missed update since the cryptocurrency sphere was losing interest in the migration towards a system that is largely associated with the centralized institutions and networks.

Ethereum volatility on all-time high

Cryptocurrency analyst and trader Ceteris Paribus recently revealed that the cryptocurrency is twice as volatile as the king of cryptocurrency Bitcoin. Ethereum volatility is standing at a high point of 6.14 percent against 3.96 percent of Bitcoin.

https://twitter.com/ceterispar1bus/status/1228470492048302086?

While the volatility is a bad sign for any cryptocurrency let alone Ethereum, there are some very important good signs that cannot be ignored before taking a stance or forming a prejudice towards the cryptocurrency.

First and foremost the collateral that is kept locked away to ensure DeFi has reportedly increased 50% since last year. While the number of Ethereum DeFi applications are also increasing every passing day.

At the time of writing Ethereum is trading at $258, which is about seven percent above the trading price some five days ago. While the market is standing strong behind the queen and it seems that good things are scheduled for the cryptocurrency as it continues to make a stronger position in the market.

Featured Image by Grafvision

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Saad B. Murtaza

Saad B. Murtaza

Journalist, Writer, Editor, Researcher, and Strategist with over 10 years of experience in the digital, print and public relations industries, Saad has been working with the mantra, Creativity, Quality and Punctuality. In his waning years promises to build a self-sustaining institute that provides free education. Carrying a diverse portfolio he has studied and written on topics related to cyber crimes, scams, blockchain, and cryptocurrencies.

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