Will ETH price bullish when the Ethereum network just recorded new achievements?

The first $ 99,000 on the first Blockchain bond launched by the Santander banking group on the Ethereum ledger has just been successfully implemented. Besides, The Center for Information and Industry Development (CCID) has just released the 15th ranking of the blockchain projects. In it, Ethereum has risen one rank. And this has led people to expect an upward season for ETH price.

Santander launches the first end-to-end Blockchain bond

In September 2019, Banco Santander announced that it had issued the first end-to-end Blockchain bond. The bank issued the bond directly onto the Blockchain. That’s the first step towards a potential secondary market for mainstream security tokens in the future.

The Banco Santander press release stated:

“The goal for Santander CIB is to engage with our most innovative clients as we move from the project stage to product development.”

The bond was worth $ 20 million, and one of the bank group units purchased it. It has been settled through Ethereum as well as through tokenized cash.

ETH price maybe increases when Ethereum raised CCID’s ranking?

According to cryptocurrency analyst The Cryptomist, the ETH price has been in the Wedge Wedge model for the past three days. After maintaining this model, ETH’s worth is often able to reverse the upward trend.

Some of the other factors that led people to expect Ethereum’s rise were Ethereum’s new position on the charts for the Center for Information and Industry Development (CCID) and the Istanbul hard fork. And these two factors are closely related.


Source: The Center for Information and Industry Development (CCID)

Ethereum’s new ranking may be due to the Istanbul hard fork update influence. The hard fork has also received much support from miners, mining pools, and major cryptocurrency exchanges around the world.  Before this hard fork, founder Vitalik Buterin announced that the Ethereum network would reach over 3,000 transactions per second after the fork was completed.

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