Sumary of What happened to the Ethereum price in the FY22 first quarter?:
- With today’s gains, the Ethereum price is up 22% so far since the start of the new financial quarter on 1 October (Q2 FY22).
- Now, cryptocurrencies don’t abide by the financial reporting standards and quarterly market updates like ASX companies do.
- Ray Brown, market analyst at Australian crypto and Bitcoin exchange CoinSpot, explained: Where Bitcoin functions primarily as a currency, Ethereum has been designed as an “open source” network that provides a foundation for other applications and smart contracts.