Ethereum’s current trading volumes indicate that the market participation rate remains active and liquid, with daily trading volumes ranging between $50.8 billion and $57.30 billion. This high trading volume also reflects the status of Ethereum and the interest that such a high-profile trading platform attracts from traders and investors.
Ethereum’s price has been on a major uptrend recently. Over the past week, it has risen by 6.32% but is currently at 9.87%, according to some sources. This is not an isolated rise for BCH but rather a continuation of the upward trend that the cryptocurrency market has been witnessing since the year faced many problems.
2. Key Historical Event and Background
To understand Ethereum’s current position and future potential, it is necessary to look at its historical trajectory:
Launch and Initial Growth (2015): Ethereum was developed in 2015 after a token sale in 2014.
DAO Hack and Fork (2016): In 2016, a major problem occurred that led to the network split, creating Ethereum (ETH) and Ethereum Classic (ETC).
ICO Boom and Subsequent Crash (2017-2018): Its market value rose from $10 to $1,480 before falling after the ICO frenzy.
The Rise of DeFi and NFTs (2020-2021): During this period, Ethereum soared to greater heights, with ETH reaching nearly $5,000 during the 2021 bull market.