The price of Ethereum has just surpassed 3,700 USD with a daily increase of more than 4%.
Ethereum is currently trading around 3,700 USD each, marking strong growth in the context of a positively evolving cryptocurrency market.
MAIN CONTENT
Ethereum has just broken through the 3,700 USD/ETH mark.
The daily increase rate is 4.16%.
Positive signs indicate the trend of the cryptocurrency market.
What is the current price of Ethereum and what is the market trend?
Ethereum is currently trading at 3,700 USD/ETH, up 4.16% in a day – a sign of strong demand from investors. This price is confirmed by market data from July 20, 2024.
According to market reports, surpassing this threshold reinforces Ethereum's position in the cryptocurrency investment portfolio and stimulates positive sentiment among traders and long-term investors.
Is Ethereum's daily increase of 4.16% sustainable?
Financial expert Tran Minh Quan commented: “The short-term increase of over 4% reflects the boost from technological development events and the growing demand for Smart Contracts.” (Interview in July 2024).
This increase comes not only from technical factors but also reflects the increasing confidence in the Ethereum ecosystem.
Tran Minh Quan, Blockchain Financial Expert, 2024
In addition, the simultaneous recovery of the altcoin market and the development of Layer 2 DeFi contribute to Ethereum's stable upward momentum.
What factors contributed to Ethereum reaching this price level?
The updates enhancing the performance of the Ethereum network, especially after the deployment of Layer 2 scaling solutions, have stimulated a significant influx of investment. Market reports for Q2 2024 indicate that liquidity on exchanges has increased by 22% compared to the same period last year.
The technical improvements and scalability of Ethereum are important stepping stones that help it become the preferred choice for investors.
Nguyen Thi Thanh Huong, CEO of Cryptocurrency Consulting Company, 2024
Moreover, the growing trend of Smart Contract application demand across various fields also contributes to Ethereum's appeal in the global market.
Frequently Asked Questions
Can Ethereum continue to rise in price?
With technical upgrades and the increasing demand for Smart Contracts, Ethereum has strong prospects for sustainable price growth according to market expert analysis.
What has the biggest impact on Ethereum's price?
Key factors include network performance, technological updates, market liquidity, and DeFi application trends, which are assessed as extremely important.
Does Ethereum need to surpass any next price level to confirm the upward trend?
Maintaining above the 3,700 USD range and challenging higher resistance levels above 4,000 USD is a positive confirmation signal for the upward trend.
How to quickly track Ethereum price fluctuations?
It is advisable to use reputable data platforms and official market reports to update real-time price information, allowing timely decision-making.
Source: https://tintucbitcoin.com/ethereum-vuot-nguong-3-700-usd/
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