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Another Ethereum [ETH] breakthrough! Surging above $800 mark

Aman Swami

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Another Ethereum [ETH] breakthrough! Surging above $800 mark
Source: Pixabay

Ethereum is currently ranked second on CoinMarketCap. Its price has been surging with great pace as the market turns bullish in the past couple of days after taking a hit from the beginning of the year.

Ethereum’s price in the last 24 hours is surging at a double-digit rate of 10.57%. Ethereum is currently priced at $801 rising with a hike of 19.16%, making Ethereum one of the highest gainers in the top 10 cryptocurrencies on the last 7-day average.

Source: tradingview.com

Source: TradingView.com

Throughout the day today, it has shown a promising growth rate. The Moving Average of 10 base points, as well as the 100 base point moving average, show an upward movement which indicates, that Ethereum will continue to rise and break through the $800 mark.



The RSI also indicates that Ethereum is overbought in the market at the moment.

In the past one hour, Ethereum has shown positive growth rate in price, it continues to surge at the rate of 1.62%. These promising numbers will reflect on Ethereum’s price.





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Aman Swami is an Economics major from Christ University. He is very passionate about cryptocurrency and understanding of financial markets.

Ethereum

Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets

Priya

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Grayscale Investments: Ethereum Trust [ETHE] receives FINRA approval for public quotation on OTC markets
Source: Unsplash

Grayscale Investments, a digital asset management firm, made an announcement with regard to the second largest cryptocurrency in the market, Ethereum. The platform stated that the Financial Industry Regulatory Authority [FINRA] approved its Ethereum Trust, ETHE, making it the third publicly quoted investment product. The other two publicly quoted investment products are Grayscale Bitcoin Trust [OTCQX: GBTC] and Grayscale Ethereum Classic Trust [OTCQX: ETCG].

Grayscale Investments stated on Twitter,

“Our team continues to bring new opportunities for investors to gain exposure to digital currencies. We’re pleased to share that Grayscale Ethereum Trust received FINRA approval for a public quotation on @OTCMarkets under symbol: $ETHE* gryscl.co/2M4wVER (1/2)”

In a blog post, the platform stated that each Share of ETHE would be equivalent to 0.09662399 Ethereum, as of 30th April 2019. Further, the asset management firm also stated that the Ethereum in each share would decrease over a period of time as  ETHE would not “generate income” and the Ethereum would be “regularly distributed” to clear-out expenses.

It further stated,



“There will be no trading volume in the Shares’ public quotation until the Shares are DTC eligible, which ETHE is expected to receive soon. Investors will be able to find current financial disclosure and Real-Time Level 2 quotes for Shares of ETHE on the OTC Markets website once trading commences. “

The ‘announcement of this announcement’ was made yesterday by Barry Silbert, the CEO of Digital Currency Group, thereby creating a buzz. Barry Silbert had stated on Twitter,

“Follow @GrayscaleInvest for some big news at 9 am NY time tomorrow. Announcing an announcement (yeah, that’s how I roll)”

To add on, the firm had recently launched the #DropGold initiative, with its main focus being prompting investors to invest in the digital gold, Bitcoin. The firm had stated,

“Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold. […] Grayscale is again pushing the envelope for traditional investors with a clear message: it’s time to #DropGold.





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