What is the current price of Ethereum in the midst of the crypto market’s uncertainty?
ETHEREUM prices have fluctuated dramatically in recent weeks, but what is the current price?
Ethereum is a major cryptocurrency that ranks second in market capitalization behind bitcoin. Since China announced new regulations and El Salvador declared that bitcoin would be made legal cash, the digital coin market has seen a lot of movement.
After bitcoin, Ethereum is the second most popular cryptocurrency.
On Saturday, several digital currency fell in price, putting a halt to a week-long price rise.
After China announced that the sector would be subjected to stricter regulation, cryptocurrency prices plummeted.
Chinese Vice Premier Liu He and the State Council issued a statement saying that more regulation is needed to protect the banking sector.
“Crackdown on Bitcoin mining and trading behavior, and aggressively prohibit the transmission of individual risks to the social field,” the statement stated.
Following El Salvador’s official declaration of bitcoin as legal cash, many cryptocurrencies skyrocketed.
Several other Latin American politicians have expressed interest in enacting similar legislation.
As a show of support for the crypto sector, some of these world leaders have even added bitcoin laser eyes to their Twitter profiles.
Congressman Carlos Rejala of Paraguay is one such member who aims to introduce a bill targeted at recruiting crypto entrepreneurs next month.
“As I mentioned a long time ago, our country needs to advance hand in hand with the younger generation,” Mr Rejala remarked.
“The time has come, our time has come.
“We begin a significant endeavor this week to innovate Paraguay in front of the world.”
El Salvador’s adoption of cryptocurrencies as legal cash has alarmed the International Monetary Fund (IMF).
It “raises a number of macroeconomic, financial, and legal issues that demand very thorough consideration,” according to the organization.
President Bukele is due to meet with the IMF to discuss the bitcoin bill.
This might make things more difficult for El Salvador’s president and his plans to extend cryptocurrency’s influence in the country.
According to cryptocurrency specialists, the market is currently in a “make or break” situation.
This year, the cryptocurrency will undergo a series of major network improvements as it converts from Proof-of-Work (PoW) to Proof-of-Stake (PoS) consensus.
When creating blockchain consensus, PoW compensates miners for solving difficult equations, but it is energy-intensive.
Miners can validate block transactions using PoS based on the number of transactions in the block. “Brinkwire News in Condensed Form.”