Ethereum (ETH) Correcting Lower Even As ConsenSys Starts Distributing Power Using Ethereum

ethereum mining power

The value of Ethereum (ETH) is gradually correcting lower. After swimming deep in the green last week and through the weekend, Ethereum (ETH) and all the top digital currencies in the market are now in the red. Nevertheless, the values of the coins are expected to pick and sync in line with gains they amassed over the past week.

Ethereum (ETH) Price Today – ETH / USD

Name Price24H (%)
Ethereum (ETH)
$209.51
-0.56%

At the press time, Ethereum (ETH) is changing hands at $221 after a decreased of about 8 percent over the past twenty-four hours. Ethereum (ETH) currently has a market cap of $22.60 billion and its trading volume over the past twenty-four hours is $1.84 billion.

ETH Price Analysis

The bulls of Ethereum (ETH) are encountering strong hurdles. Nevertheless, since the crypto market is invigorated, traders can push the value of the coin higher. The digital currency is currently trading close to the $221 mark. To prevent dips towards the $200 level – which will nullify the gains it amassed last week – the digital currency needs to return to its previous trading level at $230 to $250.

Grid+ Distributed Electricity in the U.S on the Ethereum (ETH) Mainnet

A blockchain startup that is operated by ConsenSys – Grid+ – has started distributing electricity to its customers in Texas. ConsenSys is the biggest blockchain software firm in the world, and it is operated by Joseph Lubin – the co-founder of Ethereum (ETH). The startup is now able to supply renewable power such as wind or solar energy to clients all over the United States through the use of a blockchain solution and a unique hardware gateway on the blockchain of Ethereum (ETH).

This is indeed a ground-breaking milestone for the blockchain project and the Grid+ team, and they have explored and found a new use case for blockchain technology. With increased use cases for the blockchain of Ethereum (ETH), the adoption of the digital currency will also increase over time, and this will positively impact its value.


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