Over the past month the cost of Ethereum then rose, then fell, but never showed significant interruption from $700. And this is probably the most stable “lateral” period in the history of alithina.
Some weakness was expected in April, after quotes ETH reached $850. But then the rate fell to $200, then set long-term fluctuations in the neighborhood of $700.
The number of transactions continued to grow: so, yesterday turnover ETH in decentralized applications (DApps) was 10 749 tokens or $7.5 million (at the rate of 18:36, 20.05.2018).
Although the trading volume of ETH is also stable at $2 million, the total proportion of token in circulation in the world of cryptocurrencies is growing and to date is 20%.
The graph shows that in just six hours quotes Ethereum formed a triangle. This indicates that the market is in a consolidation process, while not having a particular direction of adjustment.
If you look at the dynamics of the course over a longer period, the graph can be traced to the classical Cup with handle. As a rule, the emergence of such figures is preceded by a huge increase; but with cryptocurrencies and their volatility need to be prepared for any surprises.
As mentioned above, a certain lethargy with surprise do not call: it was the logical outcome of resistance of the market at around the cost of ETH $850. But, from the point of view of fundamental level, it is necessary to take into account a few nuances.
First, we cannot ignore the Commission on securities and exchange Commission (SEC), which has a loyal attitude to the cryptocurrency industry. The latter may be — a direct result of sabotage by the bankers who are trying to maintain the position of traditional financial institutions.
SEC is involved in making crucial for the crypto community of the United States decision: 7 January 2019 the jury under the hearing “SEC vs. the Maxim Zaslavsky” will make the final decision on the status of the cryptocurrency. Even if they are found to be securities, but including the currency, the SEC will lose Supervisory control over the digital economy and ICO.
It should be noted that the Commission on trade commodity futures (CFTC) considers the cryptocurrency a kind of merchandise, and has publicly warned the SEC that will change his position about the need to regulate kriptonyte if the Agency will continue to insist on equating virtual currency to such securities.
Anyway, at the end of session is reached the Supervisory certainty, which will allow businesses and traders to decide whether they want to continue their activities within the legal framework of the United States or be subject to another jurisdiction.
Secondly, despite the regulatory confusion, the existing decentralized applications has already managed to unite in a more or less functioning ecosystem, providing a real using ETH — even if it’s just a simple game. Their number is growing every day, making DApps-sector more interesting and, as a consequence, in the future, creating a demand for Ethereum to use these programs.
These two trends act as a sort of balances, but because they both have a procedural character and do not imply the speedy resolution, this creates a market situation of uncertainty.
But sooner or later the scales tipped in one direction or another, and we just have to wait.