Whether you are looking for diversifying into different portfolio investments, or the idea of using cryptocurrencies entices you, investing in the digital currencies is a mesmerizing thought. However, not everybody is aware of the different investment know-how or even the trending currency pairs. This is where we have come into the picture with the basic concepts. We are sure you can start with the right direction towards your investments.
You will be surprised to know that apart from Bitcoins, one of the booming crypto assets prevailing in the market is Ethereum. The market is currently seeing a bright prospect in terms of the ETH-USD trading pair, which is nothing but the price at which 1 Ethereum is sold in US Dollars. It is a simple barter system with two commodities for exchange; a digital currency and a traditional currency.
Here, it must be mentioned that the ETH-USD pair is the second-most traded pair after BTC-USD. This means that Ethereum is mostly traded in its Dollar counterpart as the chosen fiat currency. Currently, 1 Ethereum is traded at $381.07. The trading prices, however, fluctuate daily at a normal pace. However, experts think that the fluctuation will be an upward trend for some time now.
The first question that the new investors have in their minds is how they can possess cryptocurrencies, including Ethereum, with a few dollars. To answer this question, let us give you a brief insight into the different cryptocurrencies currently circulating.
Even though cryptocurrencies tend to fluctuate, they are long-term market players. This fact can be well established from the fact that despite a pandemic and falling economic environment, the performance of the ETH-USD pair over the last six months has been incredible. They are said to be contributing to the uplifting of the global economy.
While every day, the price of dollars is deteriorating, the equivalent of Ethereum in terms of the Dollars shows immense growth potentials, thereby forecasting a profitable investment.
Many experts think that Ethereum trading with its Dollar counterpart is disrupting the commodity and traditional currency markets. However, considering the current situation, this is the only option to get back the dropping economic leverage. Cryptocurrencies like Ethereum have huge scopes. And hence, the ETH/USD pair has been ruling the market charts like a pro. So, with the basic understanding of these investments, you can make a fabulous turnout.