Crypto Market Analysis: 6th September 2021
Ether is closing in on all-time highs while Bitcoin has reached above $50,000 for the first time since mid-May. ETH surged in the last week coming close to breaching the $4,000 level. The cryptoasset began the week below $3,200 but rose quickly through the week, reaching $3,981 by Friday. Over the weekend gains have flattened but remain trading in this range. A confluence of factors is contributing to the rising price of ETH. ETH burning, staking, gas fees, transactions and locked away tokens on DeFi are all working in concert to support price levels. BTC meanwhile has hit above $50,000....
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