The ETH/USD closed at $2,317.13, after placing a high of $2,396.83, and a low of $2,308.63. The ETH/USD rose during the first half of the trading session on Wednesday; however, it faced some pressure in the second half, losing its daily gains and turning red for the day, with minor declines.

Ethereum, which is the second-largest cryptocurrency, rose during the first half of the day on Wednesday, after analysts at Goldman Sachs said that ETH has the highest real use potential, and it could overtake Bitcoin as a store of value in the cryptocurrency space. Goldman Sachs predicted that Ethereum’s market capitalization could overtake Bitcoin’s market capitalization one day, as it has more real use cases than Bitcoin. The lower real use of  Bitcoin claimed by the investment bank is due to the slow transaction speed and high transaction fees.

On the other hand, the US dollar, which is negatively correlated with the ETH/USD, remained vital for the day and kept the crypto under pressure. The ETH/USD then turned red during the late trading hours on Wednesday, when the US dollar started gathering strength against its rival currencies, after the release of the minutes of the FOMC meeting. The minutes revealed that the economy was still far from reaching the substantial further progress goal set by the central bank. When the goal set by the bank is met, the Fed will start easing economic stimulus measures.