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Ethereum Market Report: Heavyweight in the Making

Ethereum

ETH price rallies

@KittyBitcoin paws at this week’s trending “wool ball”. We look at Ethereum: $ETHXBT $ETHEUR & $ETHUSD; ether – a Heavyweight in the making.

Only a dozen or so cryptocurrency exchanges offer ether (ETH) the fuel of Ethereum. With a rising market capitalization currently 468 million dollars, you’ll want to know where to get it, what currency pair to buy it in, and what sort of price to expect:

Latest price

Hot off the push notification, get prices in realtime on EthereumWisdom.com:

ETH

Data courtesy EthereumWisdom.com

EthereumWisdom displays three pairs: ETHBTC, ETHEUR and ETHUSD. In the chart, which represents ONLY one point of time on February 24 2016, @KrakenFX lastprice is USD$ 6.02 and Poloniex is USD$ 5.85

ETH marketshare by exchange: February 24 2016

Based ONLY on today’s numbers, this is how exchange marketshare looks:

spreadsheet

Data compilation @KittyBitcoin, source EthereumWisdom.com on February 24 2016

There’s a couple of takeaways from this marketshare spreadsheet:

  • over 93% of trading is in the ETHBTC pair
  • Poloniex has the lion’s share of the ETH market with over 56%

ETH exchanges by volume traded: hierarchical

  1. Poloniex
  2. Kraken
  3. Gatecoin
  4. Bittrex

There is some social chatter – and apparently screenshots – that @Bitfinex is beta testing the new (to them) altcoin ETH. However no ETH appears on a regular Bitfinex trading page at the time of writing.

A Poloniex trollbox user quipped that if one of the heavyweight exchanges like @OKCoinBTC or @Huobicom started trading Ether, such a move would act as a price catalyst. If it wasn’t for the already high weekly price, it might look like a good time to buy.

Sliding over to the data giant @BraveNewCoin, this is what you’ll see on their opening ETH market page:

bnc-24

Data courtesy @BraveNewCoin

This data is interesting when compared against EthereumWisdom chart. Our earlier finding of over 90% trading done in ETHBTC is borne out in the BraveNewCoin numbers. The 4.6% of trades in ETHEUR is also independently validated. Of note is the additional ETH purchases made in other currencies including CNY which is approaching 2%, and others CDN, JPY, GBP, DOGE and Litecoin all fractional values. What we don’t see is the @ShapeShift_io numbers:

shapeshift

Tweet courtesy of Twitter.com

Take a look at ShapeShift here: https://shapeshift.io/

Weekly Trend

bnc weekly

Data courtesy @BraveNewCoin

At the time of writing Ether is near its highest point in the week. Also of note are the additional exchanges listed including Exmo, Bter, Bluetrade, HitBTC, MetaExchange and C-CEX.

Price by month

This chart shows the recent all time high price on February 12 2016. While this has fallen off and bottomed out on February 18th at 0.00844 BTC, it has since trended upwards on lower volumes:

bnc monthly

Continual upwards price movement on falling volumes is indicative of strong speculative confidence in ETH. While ether is the fuel needed to run Ethereum applications, the growing investor confidence and widening public awareness could be buoying the price of Ether.

All time price

The all time price shows Ether opened on Sunday, August 09 2015 on a day’s trading of over half a million ether:

bnc all time

Data courtesy @BraveNewCoin

Some industry pundits say that Ether will rally to over a billion dollars market capitalization. At 466 million it’s now almost halfway there.

About @KittyBitcoin

KittyBitcoin

@KittyBitcoin supplies mobile friendly blockchain intelligence on their website http://kittybitcoin.com. Their favorite color is pink and the bigger the wool ball the better.

@KittyBitcoin supplies mobile friendly blockchain intelligence on http://kittybitcoin.com. Their favorite color is pink and the bigger the wool ball the better.
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