ETH/THB

ETH/THB

Trading ETH to THB

After Thailand changed its rules and regulations related to crypto – the popularity of digital assets in the country surged. The ETH to THB pair also became more attractive to traders.

The Ethereum to THB value may fluctuate up to 5 per cent in a single day. Throughout the week the ETH/THB exchange rate can move within bounds. Over the course of a year, the Ethereum to Baht value may change by more than 100 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 for 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 over $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 baht (THB)?

Baht or Thai baht (THB) is the official currency of the Kingdom of Thailand or Thailand. Different factors have positioned the baht as one of the most important currencies in the Asian region. However, the THB has also gone through certain crises in the late 1990s along with other currencies.

 

What affects THB’s value?

The Thai baht is under the influence of changes in economic fundamentals related to the Thailand economy. Consequently, positive changes in the current account, foreign trade, flow of foreign investments will cause an appreciation of THB value. Other factors which positively affect the demand for THB will also have a positive impact on Thailand’s currency.

The demand for the currency can be affected by the perception of Thailand's economic strength. The strength of other emerging economies in the region can additionally influence the THB price movement. When Thailand economically performs better, the Baht may be viewed as safer currency which will increase the demand.

In addition, adverse effects on the tourism sector can negatively affect the currency because this sector is comprising a significant portion of the GDP. But the most important activity which can drastically influence the value of its domestic currency is the export level which amounts to more than half of Thailand GDP.

 

Why trade ETH to THB with Currency.com

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ETH/THB price history

Date Close Change Change(%) Open High Low
Mar 10, 2020 6249.72 -123.98 -1.95% 6373.70 6421.74 6201.12
Mar 9, 2020 6373.29 122.84 1.97% 6250.45 6581.79 5979.47
Mar 8, 2020 6250.06 -434.02 -6.49% 6684.08 6777.28 6148.65
Mar 6, 2020 7570.86 352.33 4.88% 7218.53 7591.47 7179.30
Mar 5, 2020 7217.57 184.97 2.63% 7032.60 7404.63 7032.17
Mar 4, 2020 7031.03 1.64 0.02% 7029.39 7176.66 6912.08
Mar 3, 2020 7030.25 -264.60 -3.63% 7294.85 7334.06 6907.99
Mar 2, 2020 7293.99 446.17 6.52% 6847.82 7360.17 6792.51
Mar 1, 2020 6849.92 55.39 0.82% 6794.53 6971.91 6783.82
Feb 28, 2020 7127.82 -69.45 -0.96% 7197.27 7399.31 6746.01
Feb 27, 2020 7197.58 78.23 1.10% 7119.35 7523.65 6671.94
Feb 26, 2020 7118.71 -698.77 -8.94% 7817.48 7915.41 6862.04
Feb 25, 2020 7817.72 -586.72 -6.98% 8404.44 8424.07 7774.61
Feb 24, 2020 8404.71 -331.89 -3.80% 8736.60 8803.18 8133.85
Feb 23, 2020 8736.60 206.35 2.42% 8530.25 8754.39 8518.11
Feb 21, 2020 8270.81 169.96 2.10% 8100.85 8472.02 7999.49
Feb 20, 2020 8106.20 30.87 0.38% 8075.33 8243.74 7733.28
Feb 19, 2020 8075.85 -753.30 -8.53% 8829.15 8881.47 7863.56
Feb 18, 2020 8825.17 469.89 5.62% 8355.28 8934.31 8089.35
Feb 17, 2020 8354.42 276.66 3.42% 8077.76 8360.08 7553.88