Ethereum News and Price Overview: Ethereum Preferred As An Investment Instrument. Thursday, June 28
Important Ethereum News
Ethereum Preferred As An Investment Instrument
A survey has shown that more investors have preference for Ethereum than they do for Bitcoin while making investment decisions on cryptocurrencies. The survey conducted by the US law firm Foley & Lardner LLP shows that 38 percent more respondents preferred investing in Ethereum even while admitting that Bitcoin will continue to dominate the coin market as a currency. The report also shows that 58 percent of the respondents are open to having investments in cryptocurrencies.
Majority of the respondents (84 percent) feel that initial coin offerings should be regulated by the federal government, state governments or both, while 68 percent think that purchases and sale of digital currencies should be regulated.
"Bitcoin and Ethereum are the 'safest' crypto assets to build a business around because they are the only crypto assets that the SEC and the CFTC agree upon,"
"Uncertainty about regulatory standards and duties is an obstacle to salutary product development in this field," said Patrick Dougherty, a member of the Foley’s Blockchain Task Force.
Ethereum Drops to Week Low
Ethereum, the second most capitalized coin has dipped to prices not seen April 12. Data available from Coinmarketcap shows that the coin lost up to $50 within 12-hour duration to $426 highlighting the volatility for which coins are known. Having dropped to the support level the trend showed immediate reversal although its gains were $8 short of complete recovery.
The coin has since dipped again presently exchanging hands at $434 Wednesday, June 27. The coin has fluctuated above $450 before dipping again losing about $30 this time. This decline when compared with its all-time-high shows that Ethereum has lost 60 percent of its value which peaked January 14.
Available data analysis shows that the coin still has a positive outlook as recovery will likely be sustained. Although the coin has been oversold, things are cooling off.
ETH/USD Price Chart, Thursday June 28th:
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