Daniel Phillips

Ethereum (ETH) is once again in the green today, after gaining more than 8% in the last 24 hours to reach its current value of $277. Against Bitcoin (BTC), Ethereum is also performing similarly well, and is up more than six percent against the number one cryptocurrency in the last day.

As it stands, Ethereum has pushed through the $270 resistance which it briefly touched several times in the last day, and is now testing $280.

This bullish price action interrupts three straight days of decline for the cryptocurrency, which fell from a peak of more than $286 on Saturday, down to a low of $245 yesterday. Overall, the cryptocurrency is up more than 7% for the week and 50% for the month, making it one of the best performers over all short-term timescales.

It isn't just Ethereum that's back on the up and up; most other altcoins have also returned to life today, with every cryptocurrency in the top 20 by market capitalization now strongly in the green. In total, almost $7 billion was added to the combined market capitalization of all cryptocurrencies, bringing the total crypto market cap to over $289 billion.

The views and opinions expressed by the author are for informational purposes only and do not constitute financial, investment, or other advice.

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Ethereum

<span data-sheets-value="{&quot;1&quot;:2,&quot;2&quot;:&quot;First described in a 2013 whitepaper by programmer Vitalik Buterin, Ethereum (ETH) is a cryptocurrency and blockchain platform that allows developers to create programs and run smart contracts using its native language. It can thus be viewed as a virtual computer, whose resources are paid for using Ether.\r\n\r\nIn 2020, Ethereum began the transition to Ethereum 2.0, in which its proof-of-work consensus mechanism is replaced by a proof-of-stake model. The aim of the upgrade is to increase Ethereum’s scalability and security.\r&quot;}" data-sheets-userformat="{&quot;2&quot;:547,&quot;3&quot;:{&quot;1&quot;:0},&quot;4&quot;:{&quot;1&quot;:2,&quot;2&quot;:14281427},&quot;8&quot;:{&quot;1&quot;:[{&quot;1&quot;:2,&quot;2&quot;:0,&quot;5&quot;:{&quot;1&quot;:2,&quot;2&quot;:0}},{&quot;1&quot;:0,&quot;2&quot;:0,&quot;3&quot;:3},{&quot;1&quot;:1,&quot;2&quot;:0,&quot;4&quot;:1}]},&quot;12&quot;:0}">First described in a 2013 whitepaper by programmer Vitalik Buterin, Ethereum (ETH) is a cryptocurrency and blockchain platform that allows developers to create programs and run smart contracts using its native language. It can thus be viewed as a virtual computer, whose resources are paid for using Ether.</span>

In 2020, Ethereum began the transition to Ethereum 2.0, in which its proof-of-work consensus mechanism is replaced by a proof-of-stake model. The aim of the upgrade is to increase Ethereum’s scalability and security.

First described in a 2013 whitepaper by programmer Vitalik Buterin, Ethereum (ETH) is a cryptocurrency and blockchain platform that allows developers to create programs and run smart contracts using its native language. It can thus be viewed as a virtual computer, whose resources are paid for using Ether.

In 2020, Ethereum began the transition to Ethereum 2.0, in which its proof-of-work consensus mechanism is replaced by a proof-of-stake model. The aim of the upgrade is to increase Ethereum’s scalability and security.

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Ethereum (ETH) is once again in the green today, after gaining more than 8% in the last 24 hours to reach its current value of $277.

Ethereum price rebounds as market changes course

After falling to a low of just $245 yesterday, Ethereum is now on the rebound, pushing through its $270 resistance.

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