3 key factors that propelled Ethereum to $2,000 for the first time ever
Ether price is attempting to conquer $2,000 as the Ethereum blockchain is seeing increasing demand. The price of Ether (ETH) is surging past $2,000 with strong momentum while gaining a bit of ground on Bitcoin (BTC) in the last 24 hours. There are three key reasons behind the explosive rally of Ether, namely the rapid growth of DeFi, the hype around ETH after the CME futures listing, and the decreasing amount of BTC and ETH on exchanges.ETH/USDT 4-hour price chart (Binance). Source: TradingView.comCME futures listing institutional hypeEther hitting $2,000 for the first time ever follows....
Related News
Ethereum seems to be on a roll recently after BlackRock announced that it has filed for a Spot Ethereum ETF. The news of the filing propelled the price above the $2,000 level for the first time in six months, bringing the mega bulls out of the woodwork. In line with this, one analyst has predicted […]
Bitcoin is currently caught within a consolidation phase following its intense decline from highs of $11,200 last week. The cryptocurrency has been drifting lower ever since, but bulls were able to defend against it seeing any serious downside earlier today when they propelled it off of its $10,200 lows. The rebound here was significant and […]
Ethereum Classic has put on a show for the crypto market in the last two weeks. The rallies which have seen Bitcoin and Ethereum hit one-month highs have propelled the altcoin to some of the largest gains recorded in the market. After rallying almost 100% in the previous week, another massive rally has made Ethereum […]
The price of Ethereum showed a significant level of volatility over the past week, oscillating between about $4,260 and $4,490. This price movement is not merely a result of market volatility but also a host of intriguing underlying factors. Recent on-chain analysis delves into some factors behind Ethereum’s price action. Ethereum Holdings Across Exchanges Drop In […]
In years to come, the early days of 2021 will be remembered for the success of Bitcoin and Ethereum, and for the institutional FOMO that propelled their native assets to fresh all-time highs. Less than a year after the Covid-19 pandemic first made headlines, the market is breaking new ground as billionaires expand their balance sheets and bet big on crypto. But what does the rest of 2021 have in store? While Bitcoin and Ethereum […]