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2 Key Ethereum Price Metrics Support Traders’ Confidence Over $ 3,800 per ETH By CoinTelegraph

2 Key Ethereum Price Metrics Support Traders’ Confidence Over $ 3,800 per ETH

Based on derivatives markets, Ether (ETH) traders remain confident of the possibility of a further rally even though the 23% correction on September 7 affected the price.

Network congestion also peaked on September 7, after the average rate reached USD 60, and has since remained above USD 17. As a result of the constant challenges experienced by the network, Investors turned to Ethereum’s competitors with bridging and layer 2 capabilities. For example, Polkadot (DOT) was up 29% over the past week, and Algorand (ALGO) soared 67%.

  • Ernst & Young selects Polygon to scale its enterprise blockchain products on Ethereum

Interoperability and Tier 2 scaling solutions are undoubtedly being sought, with the aim of rapidly meeting the explosive demand from non-fungible token markets (NFTs) and decentralized finance applications (DeFi).

Read the full article on Cointelegraph

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Tammy Sewell is our Writer and Social at OICanadian.com. Tammy loves sports, she writes our celebrities news. She spends time browsing through several celebs news sources as well the Instagram. Email: [email protected] Phone: +1 513-209-1700

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