Ethereum Price Analysis – Continued consolidation

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Ethereum (ETH) now has a US$29 billion market capitalization, second only to Bitcoin’s US$102 billion. The volume of trading is around ~US$500,000 a day across all exchanges, behind both Bitcoin and Bitcoin Cash.The effect of the Byzantium hard fork continues to take shape on the network. Miners were rewarded with a difficulty adjustment, but also lost some of the previous block reward, which went from from 5ETH to 3ETH. These adjustments were done in part to combat Ethereum’s inflationary curve, as well as prepare for a network which uses pure Proof of Stake (PoS) in the future.

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