ETH/ZAR

ETH/ZAR

Trading ETH to ZAR

The Ethereum to ZAR pair is composed of a popular cryptocurrency and a fiat currency coming from an economy with weak economic fundamentals. This combination could bring traders good profits: even a slight change in the fundamentals of a fragile economy may change the ETH to ZAR exchange rate.

 

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 the 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 ETH

  • The Ethereum project was successfully crowdfunded in the middle of 2014 when it raised more than $18m (£14m, €16m).
  • At the end of 2015, Ethereum’s price was slightly below $1; by mid-January 2018 it reached its current peak of $1,432.
  • 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 Enterprise 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:

  • Demand for ETH, which is not driven solely by trading activities.
  • Acceptance of the Ethereum system by more established financial institutions.
  • Increased adoption of smart contracts hosted on the Ethereum platform and the inflow of new users, which increase the demand for ETH.
  • 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 multimillion-dollar market sell order crashed the ETH price from above $300 down to $0.10 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.
  • Number of crypto channels where ETH is available for trading.
  • Number and strength of ETH competitors.

 

What is the Rand (ZAR)?

The rand with its currency code ZAR has been the official currency of South Africa since its introduction on February 14, 1961. The Rand replaced the South African pound at a rate of two rand to the pound. ZAR is accepted in Namibia and is also legal tender in two other countries, Swaziland and Lesotho.

 

What affects ZAR’s value?

Economic conditions have a major influence on the ZAR exchange rate as the country has a fragile economy. Pay attention to factors such as supply and demand, inflation and interest rates, the acceptance of ZAR in everyday transactions and the political situation in South Africa.

Changes in the level of exports and imports have a significant impact on the currency value. Increases in South African exports may strengthen the ZAR value, whereas lower demand for the exported goods may have an adverse effect on the domestic economy. Some of the most important trading partners are China, Germany, the US, the UK and India. 

The level of acceptance of the rand. When more people and businesses use ZAR it may boost the confidence in this currency, which may affect its value on the forex markets.

High-interest rates can attract foreign capital into the economy, which will have a positive effect on the ZAR value. However, pay attention to the inflation rate before opening a position with the ETH/ZAR pair. A high inflation rate may diminish the positive effects for outside investors.

Forecasts regarding the South Africa economy also have a significant impact on the national currency. The actual performance is even more important: poor economic figures may hinder the ZAR exchange rate, while stronger than expected performance may appreciate ZAR value.

 

Why trade ETH to ZAR with Currency.com

  • Smooth trading

Open your account in just three 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 and real-time price alerts.

  • Power of leverage

Now you can do more with less. Start with just 0.002 ETH and enjoy 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 the help of crypto or fiat
iMac Image
Trade the world’s top tokenised stocks, indices, commodities and currencies with the help of 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/ZAR price history

Date Close Change Change(%) Open High Low
Jul 1, 2022 17481.56 85.65 0.49% 17395.91 18054.40 16892.45
Jun 30, 2022 17395.91 -395.97 -2.23% 17791.88 17934.16 16314.71
Jun 29, 2022 17787.68 -560.14 -3.05% 18347.82 18548.02 17583.67
Jun 28, 2022 18347.82 -516.13 -2.74% 18863.95 19771.73 18234.48
Jun 27, 2022 18863.91 -40.05 -0.21% 18903.96 19648.27 18607.80
Jun 26, 2022 18904.28 -742.68 -3.78% 19646.96 19653.49 18860.50
Jun 24, 2022 19187.16 935.41 5.13% 18251.75 19605.26 18011.35
Jun 23, 2022 18252.23 1561.91 9.36% 16690.32 18356.63 16641.87
Jun 22, 2022 16701.25 -1194.34 -6.67% 17895.59 17934.40 16587.68
Jun 21, 2022 17895.59 -158.98 -0.88% 18054.57 18830.74 17698.83
Jun 20, 2022 18054.46 32.39 0.18% 18022.07 18653.80 16902.77
Jun 19, 2022 18022.03 -116.57 -0.64% 18138.60 18325.98 17860.77
Jun 17, 2022 17491.76 425.38 2.49% 17066.38 17825.31 16827.03
Jun 16, 2022 17065.93 -2407.05 -12.36% 19472.98 19778.78 16795.39
Jun 15, 2022 19472.92 132.62 0.69% 19340.30 19612.96 16192.37
Jun 14, 2022 19340.30 -137.79 -0.71% 19478.09 20266.47 17235.03
Jun 13, 2022 19478.09 -3268.36 -14.37% 22746.45 23135.52 18807.84
Jun 12, 2022 22761.96 -536.49 -2.30% 23298.45 23510.31 22736.51
Jun 10, 2022 26558.27 -1110.68 -4.01% 27668.95 27860.09 26268.33
Jun 9, 2022 27668.95 318.45 1.16% 27350.50 28002.68 27134.17