Ethereum Live Price Data in South African Rands | (Ethereum in ZAR)
Ethereum current price is R 56,629.22 with a marketcap of R 6,644,971,457,565.19. Its price is 0.51% up in last 24 hours. If you would like to know where to buy Ethereum, the leading cryptocurrencies exchange in South Africa for trading in Cryptocurrencies are VARL, Luno and Binance
Should I buy Ethereum at R 56,629.22?
Considering the 0.51% up change over the last 24 hours, you may be wondering whether or not to buy Ethereum. If you want to buy Ethereum, it is important to first check the Fear and Greed Index below. If the index is on red that’s signaling a buying opportunity. When its on green that is signal to take profit or stay away.
Ethereum is a smart contract platform that enables developers to build tokens and decentralized applications (dapps). ETH is the native currency for the Ethereum platform and also works as the transaction fees to miners on the Ethereum network.Ethereum is the pioneer for blockchain based smart contracts. Smart contract is essentially a computer code that runs exactly as programmed without any possibility of downtime, censorship, fraud or third-party interference. It can facilitate the exchange of money, content, property, shares, or anything of value. When running on the blockchain a smart contract becomes like a self-operating computer program that automatically executes when specific conditions are met.Ethereum allows programmers to run complete-turing smart contracts that is capable of any customizations. Rather than giving a set of limited operations, Ethereum allows developers to have complete control over customization of their smart contract, giving developers the power to build unique and innovative applications.Ethereum being the first blockchain based smart contract platform, they have gained much popularity, resulting in new competitors fighting for market share. The competitors includes: Ethereum Classic which is the oldchain of Ethereum, Qtum, EOS, Neo, Icon, Tron and Cardano.Ethereum wallets are fairly simple to set up with multiple popular choices such as myetherwallet, metamask, and Trezor. Read here for more guide on using ethereum wallet: How to Use an Ethereum Wallet
The crypto market behavior is emotional. People tend to get greedy when the market is rising which results in FOMO (Fear of missing out). Also, people often sell their coins in irrational reaction of seeing red numbers. The Fear and Greed Index, tries to save you from your own emotional overreactions. Using two simple assumptions:
Extreme fear can be a sign that investors are too worried. That could be a buying opportunity.
When Investors are getting too greedy, that means the market is due for a correction.
Therefore, alternative.me analyzes the current sentiment of the Bitcoin market and crunch the numbers into a simple meter from 0 to 100. Zero means “Extreme Fear”, while 100 means “Extreme Greed”. See below for further information on our data sources.