It is very true to say that some of the riskiest types of Forex trades you can place these days are those which involve cryptocurrencies, for with the daily swings in value of most cryptocurrencies, whilst there is money to be made there is also money to be lost too.
As Bitcoin is such an established digital currency, it is often one of the most traded of all cryptocurrencies however most Forex brokers are also going to allow you to include it in any Forex pairing trades you make, but another very popular digital currency is of course Ethereum.
However, one thing that has certainly not gone unnoticed by traders recently is that despite some daily increases in the value of Ethereum, overall it has been on something of a downward cycle, and that is something that could continue into the future too.
In fact, having taken a look at many Forex brokers trading platforms this morning, it does appear that many of them do agree that Ethereum is a coin that is much more likely to decrease in value than rise in the future, and as such their trading markets reflect that fact, but whether Ethereum does drop any further in value does of course remain to be seen as it could quite easily increase in value too.
Current Status of Ethereum
Currently, Ethereum is the second largest cryptocurrency by market capital, and that market capital is of course huge at some $29,051,424,450 at the time of compiling this news story its value per single full unit was $286.28.
The average daily trading volume of Ethereum is around $1,397,732,920 and the current circulating supply is some 101,478,590 Ether and over the last 24 hours it has gained a quite modest increase in value of some 1.53%.
Is It Worth Trading on the Value of Ethereum?
The big question, and one that only you are going to be able to answer, is whether it is indeed going to be worth you including any number of trades in your upcoming schedule of Forex related trades that include Ethereum.
That is of course something only you will be able to judge accurately, but one thing is for certainly it is just as volatile at times as Bitcoin, and as such if you can predict the way its volume is going to move at any one given time then there so money to be made when pairing it up in any trades you do place.