{"id":123388,"date":"2021-05-01T15:09:16","date_gmt":"2021-05-01T15:09:16","guid":{"rendered":"https:\/\/precoinnews.com\/?p=123388"},"modified":"2021-05-01T15:09:16","modified_gmt":"2021-05-01T15:09:16","slug":"new-month-new-ath-why-ethereum-may-hit-10k-this-year","status":"publish","type":"post","link":"https:\/\/precoinnews.com\/crypto\/new-month-new-ath-why-ethereum-may-hit-10k-this-year\/","title":{"rendered":"New Month, New ATH: Why Ethereum May Hit $10k This Year"},"content":{"rendered":"
Ethereum has been steadily gaining 5% a day over the last week and is now reaching a new high of $2900. Ethereum is currently trading at a new all-time high of $2866, with a market capitalization of $331 billion.<\/p>\n
For the first time in history, Ethereum was able to reach $2,850, and it is on its way to surpassing $3,000. This will help the virtual currency to break its all-time high price and get closer to Bitcoin’s market capitalization. While Bitcoin remains the most common virtual currency, its market share has fallen below 49%, and Ethereum’s market share is approaching 15%.<\/p>\n
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According to data analytics platform Skew, the recent ETH price rally coincides with an increase in spot trading volumes since mid-April.<\/p>\n
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Ether spot volumes have materially picked up since mid-April pic.twitter.com\/3WqHlWdsl7<\/p>\n
— skew (@skewdotcom) April 29, 2021<\/p>\n<\/p>\n
Analysts are optimistic about the ETH price surge, predicting that it will continue in the near future. A majority of market participants expect that the Ethereum price will rise to $10,000 or higher by the end of the year.<\/p>\n
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 surpass in the coming days.<\/p>\n
Bitcoin and Ethereum aren’t the only virtual currencies that are rising in value. Binance Coin (BNB), Dogecoin, and Litecoin are all up. Binance Coin has risen by over 2% in the last 24 hours, bringing it up to $627.<\/p>\n
Dogecoin continues to draw buyers, and it is now trading at $0.36, up more than 17%. After surpassing $272, Litecoin, the digital asset generated by Charlie Lee, is up 3.14 percent from yesterday.<\/p>\n
Related article |<\/strong> Ethereum Consolidates Above $2,700, Here Are Chances of Downward Move<\/em><\/p>\n Market analyst ‘Spencer Noon’ has provided the top-ten reasons why Ethereum holds the potential to hit $10,000 by the end of 2021.<\/p>\n <\/p>\n The Ethereum community is now waiting for the ETH 2.0 update to be launched. As a result, ETH could grow to become one of the world’s largest blockchain networks. Several projects have moved from Ethereum to the Binance Smart Chain (BSC) in recent months, attracting a slew of new Decentralized Finance (DeFi) projects.<\/p>\n Ethereum may be able to reclaim its supremacy in the DeFi market with ETH 2.0. With cheaper and faster transactions, the world’s second-largest blockchain network may once again become home to the most widely used and powerful dApps, attracting users from Binance Smart Chain who previously used Ethereum.<\/p>\n Related article |<\/strong> Ethereum Closing In on $2,800 As ETH 2.0 Deposit Contract Hit New ATH<\/em><\/p>\nFundamental Reasons For ETH To Hit $10K<\/h3>\n
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