During the month of July, the cost of the Ethereum cryptocurrency increased by 50%, and the Ethereum exchange rate is currently around $ 1.5 thousand. insider businessman.
It is stated that the current amount is approximately 50% higher than a month ago. However, experts agree that Ethereum is still experiencing losses due to the crisis in the crypto industry.
Despite the big gains in July, the token has lost about 58% compared to last year. For example, it reached a maximum of $1.6k on July 20, but in November 2021, Ethereum rose to $4.8k.
According to experts, the rapid transition of the cryptocurrency to a new model that does not require the participation of miners also contributes to temporary growth.
Former crypto expert Kristina Novikova said socialbites.ca said that the record growth in the Ethereum exchange rate was temporary and was due to the US central bank waiting for a similar Federal Reserve (FRS) meeting. He is sure that the coin will drop again after the announcement of the rate.