ETH/RON

ETH/RON

Trading ETH to RON

The ETH/RON has one of the most popular cryptocurrencies in the world as its primary currency. On the fiat side, it includes the national currency of a country with one of the highest growth rates in the EU. Ultimately, this pair has sufficient demand for the two currencies and an acceptable level of fluctuations.

Throughout the day, the ETH to RON value can fluctuate a couple of per cent.  During a week, Ethereum to RON may go through a couple of retracements and bounce backs of around 5 per cent. Also, the Ethereum to Romanian leu price has higher volatility on  a higher time frame – it can fluctuate more than 10 per cent.

 

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 more than 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 Romanian leu (RON)?

Romanian leu (or lei for plural) or RON is a national currency of Romania. It is  subdivided into 100 units called bani. The currency was first created in 1867. Overall, based on different social and economic factors, Romanian leu was introduced four times. The last introduction took place in 2005.

 

Which factors affect the RON value?

The RON exchange rate can be under pressure from economic, financial or monetary factors. The level of import and export can have a dramatic influence on the RON value. Demand and supply of the domestic currency by domestic and foreign entities is another factor which needs to be considered when analysing the movement of ETH to RON. Moreover, as an EU member state, the conditions in the overall EU economy, as well as the EU relationships with other countries, influence the RON rate.

Traders should also watch things related to the Romanian economy and political situation. For example, decisions made by the central bank. Also, pay attention to the possibility that Romania may abandon its official currency and become part of the eurozone by accepting the euro as its new currency.

Currencies coming from a transitional economy with a specific economic history can be influenced by psychological factors. Due to negative experience in the past, adverse conditions (economic, political, etc) may result in increased supply of the RON by the domestic entities in an attempt to convert their holdings in a more stable currency. Such action may create a weaker RON and consequently result in an upward movement of the Ethereum to RON rate.

 

Why trade ETH to RON with Currency.com

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ETH/RON price history

Date Close Change Change(%) Open High Low
Mar 10, 2020 844.03 -12.69 -1.48% 856.72 865.90 836.82
Mar 9, 2020 856.64 16.26 1.93% 840.38 879.92 801.81
Mar 8, 2020 840.38 -64.17 -7.09% 904.55 914.70 826.85
Mar 6, 2020 1024.53 44.80 4.57% 979.73 1026.61 975.87
Mar 5, 2020 979.59 11.23 1.16% 968.36 1007.51 968.18
Mar 4, 2020 968.33 6.67 0.69% 961.66 983.54 951.30
Mar 3, 2020 961.78 -39.13 -3.91% 1000.91 1006.22 947.33
Mar 2, 2020 1000.80 53.91 5.69% 946.89 1008.72 939.81
Mar 1, 2020 946.66 10.78 1.15% 935.88 959.43 935.88
Feb 28, 2020 986.44 -6.56 -0.66% 993.00 1023.94 936.25
Feb 27, 2020 993.01 5.95 0.60% 987.06 1043.87 924.72
Feb 26, 2020 987.09 -101.42 -9.32% 1088.51 1102.57 951.68
Feb 25, 2020 1088.46 -86.52 -7.36% 1174.98 1177.52 1081.88
Feb 24, 2020 1174.95 -44.57 -3.65% 1219.52 1228.88 1134.80
Feb 23, 2020 1219.52 23.05 1.93% 1196.47 1222.31 1194.77
Feb 21, 2020 1159.58 15.15 1.32% 1144.43 1185.97 1129.34
Feb 20, 2020 1144.44 0.92 0.08% 1143.52 1166.85 1092.08
Feb 19, 2020 1143.50 -108.56 -8.67% 1252.06 1269.73 1113.75
Feb 18, 2020 1252.05 70.98 6.01% 1181.07 1266.49 1145.51
Feb 17, 2020 1180.95 40.98 3.59% 1139.97 1181.92 1066.28