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The ETH/USD pairing has been one of the most successful crypto pairs
Ethereum and the United States Dollar have become the talk of the crypto town! The ETH/USD pair has pulled off the largest number of crypto traders within January and March 2022. According to the reports by Capital.com, the largest number of traders were initially held by the Dogecoin to USD pair. But finally, Ethereum beats Dogecoin in this battle and is paired with the USD for the first time! The firm’s quarterly report revealed that the crypto has gone up by 93% in the quarter. But despite all positive stances, the report also admits that the increase in revenue does not necessarily showcase the broader market phenomena since the number was reached due to single-day spikes that took place only a few times.
Ethereum is by far one of the most prominent altcoins that pose direct competition to the popularity of Bitcoin. Even though ETH investments have increased, making it one of the most trusted cryptocurrencies in the market, its volatility still prevails. After the crypto market plunged in late 2021, Ethereum prices suffered exponentially. Its transaction fee is also experiencing an all-time low since activities on the Ethereum blockchain have also reduced significantly. Nevertheless, paired with the USD, this trading pair has ended up becoming one of the most economically and financially important currencies in the world. Since the dollar rules almost all global foreign exchanges in the market, this currency can be utilized worldwide. Transactions in ETH/USD have witnessed a sudden surge as they can prove to be efficient alternatives in the traditional forex markets that are offering substantial opportunities to the traders.
How will these successful trading pairs affect the mainstream Ethereum crypto?
Ethereum is one of the most well-known altcoins in the world. ETH is much more than just a cryptocurrency for investors and crypto enthusiasts. Even though Ether fell from its all-time highs of around US$4,000 to about US$1,800, it is quite clear that the crypto has still retained its market dominance. In fact, some investors say that if Bitcoin continues to decline the way it is, Ether might soon overtake BTC to become the world’s largest cryptocurrency. Currently, several speculations are going on in the crypto market about the prospects of Ethereum. The ETH 2.0 upgrade is awaiting launch and might turn Ether into one of the most successful cryptocurrencies the world has ever seen.
Ethereum’s present ROI is nearly 300%, which means that early investors have quadrupled their investment, a long time ago. But crypto prices are massively volatile, and even the slightest change in the global economic and financial market might create havoc in the crypto ecosystem. But it seems like, Ethereum will soon regain back its lost glory since the ETH/USD pair would prove to be one of the most successful crypto pairs in the market.
It is quite evident and safe to say that the super volatile nature of the ETH/USD pairing makes it one of the most popular crypto-to-fiat currency pairs. As the volume of Ethereum to USD transactions will continue to grow, so will the number of factors that will efficiently affect the broader Ethereum market value. But analysts and expert investors say that the crypto is soaring and paving the way for new opportunities in the crypto market.