• Ethereum’s native coin, Ether, had recovered to above $1,700 before FTX began to unravel, but it has since fallen precipitously.
• Analysts agree that the current market turmoil is likely exacerbating the cryptocurrency price declines we’ve seen so far this year.
• Government officials have also shown persistent interest in the prospect of more crypto regulation and perhaps the creation of a government-issued digital currency.
Cryptocurrency markets have been in a state of flux since the collapse of FTX, one of the world’s largest and fastest crypto exchanges. In the months leading up to the incident, Ethereum’s native coin, Ether, had managed to climb to above $1,700 before suffering a sharp decline in value. As of writing this article, the Ethereum price is hovering at around $1,215, with no significant increase or decrease in sight.
Analysts have attributed the recent volatility of cryptocurrencies to a variety of factors, including rising inflation, fluctuating U.S. monetary policy, widespread adoption, and the ongoing conflict in Ukraine. In addition, the current market turmoil is likely exacerbating the cryptocurrency price declines we’ve seen so far this year.
Government officials have also been expressing their interest in the prospect of more crypto regulation and even the creation of a government-issued digital currency. The first three quarters of 2022 were a challenging time for Ethereum’s price as a result of this uncertain climate, with the token unable to break back over the $1,300 mark.
It is difficult to predict exactly how the market will move in the coming weeks and months, but many experts agree that Ethereum may have the potential to surge to $1,300 again if the current market turmoil abates. However, the more profitable alternative may be to invest in the C+Charge platform, which allows users to securely store and manage their crypto assets with ease. With this platform, users can access their funds from any device and have the added benefit of automated trading strategies to maximize their returns.