Main navigation

Ethereum Index Flashes "Greed" as ETH Price Begins Rising

Advertisement
Mon, 11/10/2021 - 11:57
Ethereum Index Flashes "Greed" as ETH Price Begins Rising
Cover image via stock.adobe.com

Disclaimer: The opinions expressed by our writers are their own and do not represent the views of U.Today. The financial and market information provided on U.Today is intended for informational purposes only. U.Today is not liable for any financial losses incurred while trading cryptocurrencies. Conduct your own research by contacting financial experts before making any investment decisions. We believe that all content is accurate as of the date of publication, but certain offers mentioned may no longer be available.

Read U.TODAY on
Google News

The Crypto Fear and Greed Index, a popular tool for measuring market sentiment for major cryptocurrencies, is showing "greed" for Ethereum (pointing at 63 on the scale).

Advertisement

As the sentiment in the ETH market has turned to "greed," the second-largest cryptocurrency, Ethereum, has shown a 7.42% rise today, growing from $3,542 to the $3,623 level.

However, by now, ETH has gone down a little, falling to $3,373.

On Aug. 1, when the Index also was in the "greed" zone, showing 58, the native cryptocurrency of Ethereum managed to rise and surpass the $2,600 level, the highest price mark since mid-June. However, back then, the top-tier altcoin was surging up as the community was anticipating the London hard fork, which contained Ethereum Improvement Proposal 1559 (EIP-1559).

Advertisement

Related

Earlier today, it was reported that by now 500,000 ETH in fees have been burned. The burning mechanism was introduced along with the EIP-1559 upgrade and is making ETH more deflationary, which is also having a positive impact on the coin's price.

Related articles

Advertisement
TopCryptoNewsinYourMailbox
TopCryptoNewsinYourMailbox
Advertisement
Advertisement

Recommended articles

Latest Press Releases

Our social media
There's a lot to see there, too

Popular articles

Advertisement
AD