Friday , June 18 2021

Why Etherium might reach $ 10,000 this year

Etherium has steadily accumulated 5% per day over the past week and is now reaching a new high of $ 2900. Ethereum is currently trading at an all-time high of $ 2866, with a market capitalization of $ 331 billion.

New month, ATH new

For the first time in history, Ethereum managed to reach $ 2,850, and is on track to exceed $ 3,000. This will help the virtual currency break its all-time high price and get closer to the market value of Bitcoin. While Bitcoin remains the most common virtual currency, its market share has fallen below 49%, and Etherium’s market share is approaching 15%.

An ETH / USD pair broke above $ 2,850. Source: TradingView

According to the Skew data analytics platform, the recent rise in ETH prices is in line with an increase in spot trading volumes since mid-April.

Analysts are optimistic about the rise in prices at ETH, and predict that it will continue in the near future. Most market participants expect the price of etherium to rise to $ 10,000 or more by the end of the year.

Bitcoin has crossed $ 58,000 in the last few hours and is now very close to $ 60,000, a high psychological level that will be critical to rise in the coming days.

Bitcoin and Ethereum are not the only virtual currencies that rise in value. Currency Binance (BNB), Dogecoin and Litecoin are on the agenda. Binary currency has risen more than 2% in the last day, bringing it to $ 627.

Dogcoin continues to attract buyers, and is now trading at $ 0.36, up more than 17%. After passing $ 272, Litcoin, the digital asset produced by Charlie Lee, has risen 3.14 percent from yesterday.

Related Article | Ethereum is incorporating over $ 2,700, here are chances to move down

Basic reasons for ETH to hit $ 10K

Market analyst Spencer Nun has on condition Top 10 Reasons Why Ethereum Has the Potential to Hit $ 10,000 by the End of 2021.

  • There is now a massive demand for the ETH block space as blockchain etherium overshadows its peers with an average daily fee paid around $ 18 billion.
  • Atherium NFT sales skyrocketed to $ 600 million recently.
  • Atherium-based polygon network currently processes $ 1 million in daily transactions. It also surpassed some of DeFi’s biggest projects like Aave.
  • Etherium’s blockchain network currently has more than $ 50 billion in outstanding supply of pallets.
  • As of today, the Ethereum blockchain network is settling a value of $ 30.5 billion daily which is double that of the Bitcoin blockchain network.

  • The daily active addresses for Etherium are on a steady rise and have reached an all-time high of over 625,000 in recent times.
  • Etherium is slowly emerging as an institutionalized technology with the explosive growth of DeFi activity this year. Of the $ 65 billion locked up in DeFi, most of DeFi’s projects are in Ethereum.

The Ethereum community is now awaiting the launch of the ETH 2.0 update. As a result, ETH may grow into one of the largest blockchain networks in the world. Several projects have moved from Ethereum to the Binance smart network (BSC) in recent months, attracting a host of new distributed finance (DeFi) projects.

Ethereum may be able to regain its superiority in the DeFi market with ETH 2.0. With cheaper and faster deals, the second largest blockchain network in the world could once again become the home of the most common and powerful dApp devices, attracting Binance Smart Chain users who previously used Ethereum.

Related Article | Ethereum closed at $ 2,800 when the ETH 2.0 deposit contract reached a new ATH

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