ETH/DKK

ETH/DKK

Trading ETH to DKK

The ETH to DKK pair may be an attractive trading combination as it is composed of a popular crypto and a currency which is pegged to the euro. Traders have the opportunity to benefit from movements in the EU economy, changes in euro value and the factors related to the Danish economy.

 

What is Ethereum?

Ethereum was introduced in 2015 by a Russian-Canadian programmer Vitaly “Vitalik” Buterin. It is an open-source platform that utilises blockchain technology to create and execute distributed applications (DApps). Users can create or join so-called “smart contracts” directly without third parties, limiting the possibility of fraud.

Ethereum is commonly used as a name of the associated cryptocurrency but in fact Ethereum is the system or network while Ether or ETH is the native currency. Users need to have Ether when they want to execute a certain transaction through the system.

 

Some interesting facts about the ETH

  • The Ethereum project was successfully crowdfunded in the middle of 2014 when it raised more than $18m (£14m).
  • At the end of 2015 Ethereum’s price was slightly below $1 (£0.80), by mid-January 2018, it reached its current peak of $1,432 (£1,132).
  • Unlike some other cryptocurrencies, there is no maximum supply cap for Ether.
  • Ether can be created through “mining” – users receive a reward when they complete a mathematical task and verify transactions.
  • The Ethereum Alliance (EEA) is an organisation developed to enhance the future usability of Ethereum.
  • Most of the ICO (Initial Coin Offerings) are hosted on the Ethereum blockchain.

 

What affects Ethereum’s value?

The factors can be divided into two groups – the ETH related and those affecting the general cryptocurrency market.

 

Ethereum specific factors are:

  • The demand for ETH, which is not driven solely by trading activities.
  • The acceptance of the Ethereum system by more established financial institutions.
  • The increased adoption of smart contracts hosted on the Ethereum platform and the inflow of new users will increase the demand for ETH.
  • The degree of mining profitability.
  • Improvements in the Ethereum system in the future.

 

General factors related to the crypto world:

  • Changes in regulatory laws and regulations regarding the legality and usage of cryptocurrencies.
  • Potential market manipulation by large participants or so-called crypto whales.
  • Speculative trading – on June 22, 2017, a multi-million dollar market sell order crashed the ETH price from above $300 (£240) down to $0.10 (£0.08) in a couple of seconds, although the price did bounce back within minutes.  One trader reportedly made more than $1m, thanks to an automatic buy order set at $0.10 through which he purchased over 3,000 ETH.
  • The number of crypto channels where ETH is available for trading also affect its value.
  • The number and strength of ETH competitors.

 

What is the Danish Krone (DKK)?

Danish krone is the currency in circulation in the Kingdom of Denmark with a currency code DKK. Its regulation falls under the jurisdiction of the Danmarks Nationalbank (the Central Bank). Danish krone is also the official currency in the Faroe Islands and Greenland. Denmark maintains a fixed exchange rate regime of its currency, primarily with the German mark and later with the euro. The reason for maintaining a pegged exchange rate regime is to avoid potential risks related to fluctuations in the exchange rate between the currencies.

 

Which factors affect DKK value?

The strength or weakness of fiat currency is determined by a variety of macroeconomic factors. Changes in the export and import levels, economic growth, the cost for borrowing, unemployment, etc. may cause changes in the value of ETH/DKK.

The foreign exchange policy managed by the Central Bank may also influence the value of the domestic currency. However, inflation is not of crucial importance for the Ethereum to DKK movement or the movement of DKK in general. This comes from the fixed exchange rate against the euro through which Denmark maintains a low inflation rate.

 

Why trade ETH to DKK with Currency.com

  • Smooth trading

Open your account in just 3 minutes and instantly buy tokenised assets with ETH at better prices. Store your tokens privately and securely and transfer them with ease.

  • Crypto or fiat

Fund your account easily and withdraw fiat with your crypto wallet, credit card or bank transfer.

  • Cutting-edge charts and tools

Enjoy more than 70 technical indicators, great choice of drawing tools, advanced charts, real-time price alerts.

  • Power of leverage

Now you can do more with less. Start with just 0.002 ETH and use up to 100x leverage.

  • Trade safely

Protect your money with guaranteed stop-loss and take-profit orders. Never lose more than you put in.

iPhone Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with crypto or fiat
iMac Image
1BTC
Invest
20BTC
Profit
Leverage:
x20
The Power Of Leverage
Trade in the big leagues with 100 Bitcoin for every 1 Bitcoin you put in

ETH/DKK price history

Date Close Change Change(%) Open High Low
Mar 10, 2020 1308.64 -18.37 -1.38% 1327.01 1341.54 1296.68
Mar 9, 2020 1327.13 21.04 1.61% 1306.09 1365.71 1242.56
Mar 8, 2020 1306.08 -102.47 -7.27% 1408.55 1428.18 1284.96
Mar 6, 2020 1595.40 73.78 4.85% 1521.62 1595.67 1515.55
Mar 5, 2020 1521.41 15.26 1.01% 1506.15 1564.68 1505.89
Mar 4, 2020 1506.10 10.53 0.70% 1495.57 1529.40 1479.94
Mar 3, 2020 1495.57 -59.84 -3.85% 1555.41 1564.27 1472.78
Mar 2, 2020 1555.22 85.08 5.79% 1470.14 1567.40 1459.09
Mar 1, 2020 1470.09 17.47 1.20% 1452.62 1489.85 1452.59
Feb 28, 2020 1532.91 -12.34 -0.80% 1545.25 1593.69 1453.60
Feb 27, 2020 1545.32 11.15 0.73% 1534.17 1622.08 1437.49
Feb 26, 2020 1534.19 -157.23 -9.30% 1691.42 1713.28 1479.20
Feb 25, 2020 1691.36 -137.33 -7.51% 1828.69 1832.42 1681.11
Feb 24, 2020 1828.63 -70.79 -3.73% 1899.42 1913.86 1765.74
Feb 23, 2020 1899.42 34.94 1.87% 1864.48 1903.76 1861.76
Feb 21, 2020 1807.40 25.72 1.44% 1781.68 1846.60 1759.34
Feb 20, 2020 1782.86 -4.28 -0.24% 1787.14 1823.67 1701.23
Feb 19, 2020 1787.14 -171.97 -8.78% 1959.11 1984.19 1740.57
Feb 18, 2020 1958.22 111.58 6.04% 1846.64 1980.38 1789.48
Feb 17, 2020 1846.45 59.95 3.36% 1786.50 1847.96 1670.67