Ethereum Price Watch: Currency Jumps by $7


At press time, the second largest cryptocurrency and the number one competitor to bitcoin has experienced a small price rise that has brought it up to $450. That’s about seven dollars higher than where it stood yesterday morning.

As we start a new month, we wonder what the future will bring us. Will we see price rises from here on out? A period of recovery for most major coins, or will the struggle endure through the end of the year?

It’s unclear, specifically, what the next few weeks or months will hold, though long-term support for Ethereum has seemingly broken down. Thankfully, the currency managed to bounce back recently, where resistance at the $465 mark now awaits. Granted Ethereum fails to test such resistance, the bears could once again find themselves in control, while the previous support fall would prove to be devastating in the short-term.

ETHUSD: ETH-USD -(also has) Top Probability 83%

However, the good news is that Ethereum has risen by over eight percent in the last few days. While this still represents a fall of over two-thirds since the beginning of the year, some investors are breathing a small sigh of relief as the currency attempts to revive itself. Ethereum’s market cap now stands at a solid $45.4 billion, which is still about $10 billion less than where it was back in May, but hey… Let’s face it: things need to start somewhere.

In addition, Ethereum (along with several other altcoins) appears to be garnering higher publicity and praise in other countries, particularly in Europe. In Austria, for example, leading cryptocurrency exchange Bitpanda is working to bring cryptocurrency to the masses, and is offering investors and buyers more opportunities to purchase Ethereum – along with bitcoin, Dash, Komodo, Litecoin, IOTA, Ripple (XRP) and Bitcoin Cash – across 400 separate post offices throughout the country.

Here’s how the process works: customers can enter their postal codes in the new Bitpanda To Go app to find their nearest branch. There are about 250 separate post office locations throughout Vienna alone, along with nearly 200 in the neighboring city of Linz. Customers can purchase crypto in either 50-pound, 100-pound, or 500-pound blocks or notes.

Those interested just need an email address to make their purchases. Once a purchase is complete, the funds are deposited directly into an integrated wallet.

The Austrian Postal Service has seen a decrease in nearly $2 billion in revenue since 2017. Representatives attribute this to declines in addressed letter mail volumes, and the system is now seeking ways to remain relevant to its customers.

One of these methods involves expanding its financial services to customers. This is where the crypto platform is coming into play. Digital currencies are now in line for further mainstream adoption, and likely to boost the postal company’s financial earnings while assisting people’s latest needs.

While Ethereum’s trust and overall market cap remains high, investors are warned that all cryptocurrencies remain as volatile as ever. Thus, investing in or trading any cryptocurrency is a risky business, and individuals should only play around with funds they can afford to part with.

Ethereum Charts by TradingView

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