Ethereum Price Analysis – Continued consolidation to end before December

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Ethereum (ETH) now has a US$29.4 billion market capitalization, second only to Bitcoin (BTC) with US$96.7 billion. Yesterday, Bitcoin Cash (BCH) briefly held the number two spot in the setting of record trading volume from South Korea on weekend hours. Global volume in ETH trading has been ~US$1.5 billion over the past 24 hours, behind that of Bitcoin (BTC) and Bitcoin Cash (BCH). Compared to the other top coins by market cap, ETH has seen very little price action.ETH difficulty and hash rate have also remained stable since the difficulty and block reward reduction after the hard fork on October 17th. ETH continues to have substantially more transaction per day, ~200,000, than Bitcoin (not shown). With 13 second block times, ETH also currently has no unconfirmed transactions or fee problems.

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