Ethereum (ETH) has had a good week of growth and is currently aiming for $ 200. The second largest blockchain network in the world also has many infrastructure improvements to help ETH price increase 45% from the beginning of the year.
Ethereum increased by 5%
The ETH price has increased by 5% in the past 24 hours, hitting the $ 190 mark for the first time since November 2019. According to TradingView, Ethereum once touched the level of $ 195 after returning a few hours ago.
Prices have started to rise from January at US $ 130 to 45% to approach the current price. The psychological resistance of $ 200 is the next hurdle and ETH can reach $ 220 if overcoming this challenge.
– BitcoinAgile (@bitcoinagile) February 3, 2020
Ethereum is down 86% from its peak and is still considered to be in a bear market. This will no longer happen if ETH can reach the $ 400 mark this year.
The platforms are quite stable
Ethereum had a pretty good January in terms of technical as well as platform. ConsenSys is continuing to review and improve the platform aspect of the network.
The DeFi market is not far from the 1 billion USD milestone and this goal will easily be realized once the ETH price continues to rise sharply.
Another positive factor is that the number of Dapps available on the platform is hovering around 3,300 applications. January witnessed 5,200 smart contracts Dapp being used and 40,000 traders using DEX.
There have been 3 testnet testing ETH 2.0 on Github and USD 650,000 have been awarded by the Ethereum Foundation for platform projects. Ethereum Staking has also grown rapidly with 1 million ETH held on the Beacon chain. ETHDenver will also be an upcoming event with the participation of sponsor BP, the global energy giant.
At the moment, ETH is still on the rise and there is no sign of stopping.
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