What is the relationship between Ethereum and the US dollar (Ethereum U.S. Dollar Index)
What is the relationship between Ethereum and the US dollar Ethereum? According to CoinMetrics, a crypto market intelligence company, the current circulation supply of Ethereum is 135.6 trillion units. In the past few weeks, the price of ETH has been on a downward trend. Despite the decline in Bitcoin prices in recent months, the value of Ethereum continues to rise
According to Ki YoungJu, CEO of CryptoQuant, “in the past few weeks, the price of Ethereum has dropped by more than 90% from its historical high.” He further explained that “if the Ethereum continues to fall below the 10000 dollar threshold, Ethereum will be forced to adjust”. (coindesk)
Ethereum U.S. Dollar Index
It is reported that according to CoinMarketCap data, Ethereum U.S. Dollar Index reported 2827.93 points, up 14.65 points or 0.7% from the same period yesterday. Previously, the Ethereum U.S. Dollar Index rose 44.01%. The Bitcoin U.S. Dollar Index (BPI) closed at 2918.43, down 23.03 points or 1.1% from the same period yesterday. The current 24-hour trading volume of the Ethereum U.S. Dollar Index was $898 million, down 11.7% from yesterday
Note: The correlation between the Ethereum U.S. Dollar Index and the BTC exchange rate is still high, and has been showing a downward trend in recent weeks.
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