By Solomon Odunayo
A famous crypto trader and analyst, Josh Rager, has some hours ago asserted that buying Ethereum (ETH) when it’s priced below $300 is like buying it at that price in 2017.
He shared this opinion in one of his recent tweets a few hours ago. According to the chart captioned by Rager, back in June 2017, Ethereum (ETH) attained $300 for the first time, followed by price fluctuations. ETH started becoming stable above the price level in September.
This trend ended in a bull-run in November 2017, leading the cryptocurrency to its price all-time high of $1,300 in January 2018.
The present state of Ethereum (ETH) makes Josh Rager believe that the digital currency will not break out until Bitcoin (BTC), the largest cryptocurrency by market, breaks above $10,000 resistance level.
Nevertheless, the trader believes that ETH will start experiencing a huge breakout once it surpasses $306. Could history repeat itself? Time will do proper justice.
He wrote:
“Buying ETH under $300 is like buying ETH under $300 a few years back.
Buying $ETH under $300 is like buying $ETH under $300 a few years back pic.twitter.com/0YuvpIoMnW
— Josh Rager 📈 (@Rager) July 7, 2020
Nah, I think it eventually breaks up, but we’re not anywhere out of the woods until over $10k BTC We’ll see if ETH leads or not, But once it breaks above $306 or that area… it’s going to rip up IMO.”
Nah, I think it eventually breaks up, but we're not anywhere out of the woods until over $10k BTC
We'll see if ETH leads or not, But once it breaks above $306 or that area… it's going to rip up IMO
— Josh Rager 📈 (@Rager) July 7, 2020
Report Says $10.17 Billion in Value Flowed Through Ethereum Network in Quarter 2
According to Dapp.com, the decentralized apps powered by the Ethereum blockchain attained a transaction volume of $10.17 billion in the second quarter of 2020.
The report reveals that Ethereum ruled above all other blockchains in terms of transaction volume.
“In Q2, the transaction volume of ETH DApp is still leading far ahead, maintaining a $10 billion scale – nearly 10 times the sum of EOS and TRON’s.”
The report also discloses that the number of active DApp users on Ethereum, Tron, and EOS skyrocketed:
“Ethereum has doubled (97%) its amount of active DApp users in Q2, with a sharp increase from 637,278 in the first quarter to 1,258,527 this quarter, reaching its ATH. At the same time, the number of active DApp users on EOS and Tron also grew by 30% and 50% respectively, reaching 116,389 and 392,657 respectively.”