Cryptocurrencies and blockchain technology are gaining a lot of attention lately. As one of the few cryptocurrencies that is usable, Ethereum has become a popular investment for many people all over the world. And with good reason: the price of Ethereum continues to rise. In this article, we will explore what drives the Ethereum price up, and what it means for investors and consumers.
Ethereum Price Canada Continues To Rise
As Ethereum prices continued to rise in the week leading up to Thanksgiving, the altcoin surpassed the $700 mark for the first time. This milestone comes just a few months after Ethereum hit an all-time high of over $1,200. The reason for this meteoric increase? According to some experts, it has much to do with the growing interest in blockchain technology and digital currencies.
This newfound interest is beingdriven primarily by China and South Korea. In China, significant regulatory changes are making it easier for people and businesses to get involved in the digital currency. Meanwhile, South Korea is one of the most important markets for cryptocurrencies, as its population is highly tech-savvy and often open to new ideas.
Despite these impressive gains, Ethereum prices are still quite volatile. For example, they plunged by over 25% last week before rallying again. So far this year, Ethereum has seen a total return of almost 900%. However, stocks market volatility can often make short-term investments look risky and unpredictable, so it’s important not to put all of your eggs in one basket!
What Ethereum Is And What It’s Used For
Ethereum is decentralized platform that runs smart contracts: applications that run exactly as programmed without any possibility of fraud or interference.
These applications can be used to create anything from financial contracts and agreements, to digital identities and online communities. In addition, Ethereum allows for anonymous transactions and does not have a single point of failure like traditional banking systems.
Due to its versatility and widespread use, Ethereum has become one the most popular cryptocurrency in the world. In fact, according to CoinMarketCap, Ethereum is currently second largest cryptocurrency by market cap with value of over $20 billion.
Many companies are already building products on top of Ethereum’s blockchain technology, including Microsoft, IBM and JPMorgan Chase. The future looks very bright for Ethereum as it continues to grow in popularity and usefulness.
How Does Ethereum Work?
To create a contract, users send Ethereum to a contract address. This creates an agreement between people, without the need for a middleman.
Every time someone uses your contract, they pay you in Ether. You can then use this Ether to buy goods and services on the Ethereum network.
Why is the Ethereum Price So High?
Since the beginning of 2018, Ethereum has seen an incredible price hike. As of writing this, one Ether is worth over CAD 1,390 – a whopping 931% increase from its value at the start of the year. But why is Ethereum prices so high? And what does this mean for investors?
These apps can used to move money, share files, and more – and they’re powerful tools that have the potential to change many aspects of our lives.
But Ethereum isn’t just a fad; it has real potential. For one, Ethereum is faster and cheaper than traditional digital platforms like Facebook or Google. This means that it’s perfect for applications that need to run quickly and efficiently – like bank transactions or online shopping. Additionally, Ethereum’s blockchain technology can be used to create Decentralized Autonomous Organizations (DAOs), which are groups of people who can operate without bosses and with total control over their data.
So far, Ethereum has been incredibly successful – and its popularity is only growing. This soaring price appreciation presents investors with an amazing opportunity: if you buy in now, you could potentially earn a fortune in the coming years! But don’t forget: just because Ethereum is doing well doesn’t mean it’s going to stay this way for long; sudden crashes are always possible in
Conclusion
Over the past few weeks, Ethereum price Canada has been on a tear, with ETH prices increasing by around 50% in value. This surge in Ethereum prices can be attributed to a number of reasons, but chief among them is likely the increasing interest from investors in cryptocurrencies and blockchain technology.
