Ethereum is now more valuable than VISA after crossing $500 billion USD in market cap according to coinpaprika data. It also managed to jump the market caps of both Walmart and the Wall Street banking giant JP Morgan Chase earlier this week.
The second-largest cryptocurrency has crossed $4000 USD milestone last week and again reached its all-time high again (ATH) today after crossing $4300 on exchanges after a long and steady bullish run. It is currently up 9% on the day and is trading at $4,310.
The upward trend of the altcoin king shows growth of over 450% since the beginning of the year. While many altcoins continue to pump, bitcoin dominance (BTC) has been sliding. Earlier this month, BTC dropped below two long-term support levels.
Glassnode reported that waves of investors seem to be moving Ethereum from centralized exchanges and platforms into the increasingly popular decentralized finance (DeFi) space.
Though meme coins are ruling the social media and making all the hypes and panic in the crypto market, the king of altcoin is slowly and steadily heading for $10,000 by end of this year as reported by crypto analyst Megan Kasper.
Also read –
[…] like Bitcoin and Ethereum are very volatile in nature when priced against fiat currencies. This is to be expected, as […]