Ethereum (ETH) recently dropped below the 3,400 USD threshold, trading around 3,397.21 USD per coin.
According to market data from OKX updated on July 17, the price of ETH increased by 4.70% the previous day but still experienced a short-term adjustment below 3,400 USD.
MAIN CONTENT
ETH fell below the 3,400 USD level on July 17 but still maintained a 4.70% increase within 24 hours.
ETH price volatility reflects short-term trading trends and market sentiment in the cryptocurrency market.
Data from the OKX exchange provides accurate information, supporting cryptocurrency market analysis.
What price is ETH trading at as of July 17?
Market data from the OKX exchange shows that ETH is currently fluctuating around 3,397.21 USD per coin. This is a slight decrease from the 3,400 USD threshold but the positive point is that ETH's price still increased by 4.70% the previous day, demonstrating a quick recovery.
The price of ETH slightly decreased below 3,400 USD but still maintained a good recovery trend with an increase of nearly 5% in the past 24 hours. This is a positive signal from the cryptocurrency market that investors should pay attention to.
Nguyen Van Nam, CEO of the Blockchain Research Company, July 17, 2024
The decrease of ETH from the near 3,400 USD level reflects the short-term volatility commonly seen in the cryptocurrency market. According to a report by the research organization CoinData Analytics (2024), the price of ETH tends to fluctuate according to news and investor sentiment during the day.
What factors have affected the recent price volatility of ETH?
The price of ETH is influenced by many factors such as market news, fluctuations in global digital currencies, and on-chain indicators. Data from exchanges helps to clearly identify the supply and demand trends and liquidity in the short term.
High liquidity and trading activity contribute to controlling ETH price volatility, allowing the market to respond more quickly to positive signals.
Tran Thi Hong, Crypto Expert at the Financial Research Institute, 2024
Analysts believe that a 4.70% daily volatility is a significant increase considering the frequent short-term adjustments that occur with leading cryptocurrencies like ETH. Factors such as network events, upgrades, or global economic news are often the main causes.
How has the recent price volatility of ETH compared to Bitcoin?
According to statistics in Q2/2024, ETH had a higher average volatility than Bitcoin due to its stronger liquidity and development community. ETH often responds more quickly to events in the DeFi and NFT ecosystems.
Criteria Ethereum (ETH) Bitcoin (BTC) Last trading price (July 17) 3,397.21 USD ~29,000 USD (estimated) Price volatility in 24 hours +4.70% +2.30% Characteristics Dynamic in DeFi, NFT, Smart Contract Store of value, large transactions
Frequently asked questions
Can ETH soon recover above 3,400 USD?
Based on current data and market trends, the recovery of ETH above the 3,400 USD threshold is entirely feasible thanks to increased liquidity and positive investor sentiment.
What are the reasons for the 4.70% price volatility of ETH during the day?
Volatility mainly comes from the impact of the global cryptocurrency market, updated news, trading activity, and events in the Ethereum ecosystem.
Is the data from OKX reliable for market analysis?
OKX is one of the large and reputable exchanges, providing transparent and practical data to help investors accurately assess market conditions.
How is ETH affected by events in the DeFi ecosystem?
Events in DeFi can create significant volatility for ETH prices due to their direct relevance to Smart Contracts and Tokens on the Ethereum network.
What does the comparison of ETH and Bitcoin volatility mean?
Comparisons provide an overview of the sensitivity of each cryptocurrency to different market factors, helping investors diversify their strategies.
Source: https://tintucbitcoin.com/ethereum-giam-duoi-3-400-usd-hom-nay/
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