The news centered around Ethereum (ETH) have been viral on our DC Forecasts crypto news site, mostly because of the rise of the ETH altcoin which is now the second most valuable cryptocurrency in the global market. With an additional three percent increase over the past day, Ethereum is continuing to increase in terms of its price.
In only one week, ETH has climbed from $117 to $159 which is an increase of more than 35% against the US dollar, making it one of the best performing crypto assets throughout the past two months.
According to analysts, the positive price movement of Ethereum (ETH) is for its upcoming Constantinople hard fork, which is set to decrease the block reward of Ethereum from 3 to 2 and reduce the potential circulating supply of ETH in the long run.
OKEx was one of the exchanges that announced support for the hard fork of Ethereum. As the exchange stated:
“We will support the Ethereum (ETH) Constantinople hard fork and will take a snapshot of all the OKEx accounts at the block height 7,080,000 (which is estimated to occur between Jan 14 – 18).”
Assuming that the performance of the asset is linked to these positive news, Ethereum is expected to test important resistance levels with strength. However, despite the optimistic price movement of the asset, an entry in a high point could also pose a risk for investors.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Discussion about this post