Ethereum price surges past $2000

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TL;DR Breakdown

  • Ethereum price surges by 200 percent since January. 
  • Analysts predict a $10,000 high for ETH. 

As at the time of writing, Ethereum price is currently trading at $2025, which is a new record-high. The second-largest cryptocurrency per market cap after Bitcoin has lived up to the predictions made by analysts earlier this month. 

Data from TradingView above shows that the second most sought-after cryptocurrency has increased by 5 percent in the last 24 hours. Similarly, since the beginning of the new year, ETH has experienced a whooping increase of up to 200 percent. What more, the cryptocurrency’s market cap has exceeded $230 billion — a daily average trading volume of $40 billion. 

More Ethereum price bullish run expected 

With its recent Ethereum futures launch on the CME and high rate of demand from firms, there is a lot of positivity concerning the bullish run of Ethereum. Ethereum price may cross the $10,000 mark, according to analysts. 

Presently, a lot of DeFi projects are using the Ethereum blockchain to carry out transactions. This interest and support are instrumental to the growth of Ethereum price. As per the report obtained from the analysis, Decentralised Finance is the primary force behind ETH‘s upward trend. 

Aside from Decentralised Finance’s contribution, NFTs also had a considerable role to play in the current ETH price. The value of transactions in this sector amounts to a 300 percent increase to that of 2020, and the growth is set to continue. 

Bitcoin or Ethereum? 

The question that remains now is the choice between Bitcoin and Ethereum. The two cryptocurrencies dominate the crypto market, with the former hitting new records as weeks unfolds. Presently trading at $55,917, Bitcoin is a top asset. However, BTCs dominance has not overwhelmed the breakthrough of other cryptos like Ethereum. 

Many have an excellent alternative to pick from in Ethereum, and its bullish run, as well as that of Bitcoin, is certain. Even as a dip is inevitable due to market volatility, Ethereum price is increasing, and that is all that matters at the moment for investors and crypto enthusiasts at large. 

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