Ethereum retreats as to gather momentum to trade above $140

Ethereum fell slightly on spot trading on Wednesday, to resume its losses which temporarily stopped yesterday, this comes with the current limited decline in most major cryptocurrencies prices in the digital market, as the second largest cryptocurrency in the world need more momentum to trade on top of $140.

As of 12:25 GMT on Bitstamp, Ethereum is trading around $137.00, down $0.87, or 0.6%, opening at $137.87, with the highest at $138.35 and the lowest at $135.26.

As of Tuesday, Ethereum gained 0.8%, the first gain in three days, as most of the major cryptocurrencies rose in the market.

The cryptocurrency market value decreased on Wednesday with almost one billion dollar, to a sum of $139.5 billion, with a limited decline in most of the major currency markets.

Yesterday, the market value of cryptocurrencies recorded a level of $141 billion, the highest level since February 24th, in a strong sign of the positive atmosphere dominating the market at the moment.

On the other hand, Vitalik Buterin, creator of the Ethereum network project, praised the model currently in control of the world's second-largest encrypted network. Vitalik said that the current model had passed a difficult test, especially after solving the latest protocol problems.

"People are complaining about the model as a process," he added. Yet, the concrete results achieved by the management of Ethereum, it have already been well done.

On 28 February, the Ethereum network successfully conducted the updating of Constantinople/Petersburg in the so-called "Operation Hard fork".

Experts believe that these updates will bring the confidence and attention needed to invest in encrypted assets and develop decentralized applications.