Ethereum Sets a New All-time High by Touching the $3800

When Ethereum started touching the $3000, there were imminent talks regarding this cryptocurrency ending up with a bullish run that is going to take its price-performance charts over the roof. As it happens, these were not talks but an actual scenario Ethereum seems to be going through at the moment. Ethereum has only reached $3800 this Saturday, and the reason for this can be catered to the increased interest of the investors into the world’s largest altcoin, and other than that, the casual traders are shifting their investment and their time from Bitcoin and pouring it into Ethereum.

A Future Price Surge is Expected as a Bullish Run Remains Stuck with Etheruem

Given the current rollout of the Berlin upgrade that has effectively strengthened the overall functioning of the Ethereum blockchain, the overall activity of investors has increased for Ethereum’s Blockchain. This is a contributing factor for a sudden price increase, other than that the London upgrade is still bound to happen, which means that it is entirely possible for Ethereum to see some more trader-oriented interest in terms of overall trading over the course of the next few months. 

The on-chain analytics of the Ethereum blockchain has confirmed that it has been hitting almost 16.5 transactions per second, according to Glassnode and a massive credit for that goes to the current decline among the gas prices that have really spiked up the number of transactions taking place on Ethereum’s blockchain.

Given the current price development, the investors are already willing to wait on their share of Ethereum as it would be unwise to go down with its selling at the current market price. The possibility is that the price will increase over time in the following months, so the only viable thing around that is to hold onto your particular stash of Ethereum. 

This is exactly what most of these will end up doing, and that is vertigo in itself where the concentration rises to a certain limit, and the commodity that is being withheld becomes so scarce that this phenomenon in itself tunes up the price. Although these are mere speculations at the moment, possibly enough, this is how things are going to go down for Ethereum in the next few months. 

Leave a Reply

Your email address will not be published. Required fields are marked *

Related

YouTube Crypto Influencers Fall Victim Of Scam

 In 2021, the crypto community witnessed a tremendous rise that also led to crypto fraudsters coming out in their numbers to prey on the users of the platform. Of late, several YouTubers that capitalize on crypto content creation reported that their accounts were hacked and noticed that fraudulent videos had been put up on their […]

Binance Boss Loses $14B Overnight In A Bloody Crypto Market Correction

Even though the crypto market has been declining since the beginning of the week, it culminated in a massive decline on January 21, with BTC now trading at a 6-month low of $35.35K. Crypto Price Correction And Dwindling Wealth For CZ As widely reported in various media, the price of crypto-related stocks has not been […]

Robinhood Trials A New Crypto Wallet Transfer Feature 

Popular trading platform, Robinhood, has launched the trial version of its crypto wallet feature that allows its users to perform crypto transactions outside the platform. Feature Only Available For Select Users However, this feature (WenWallets) is only available to 1,000 selected users. Part of the press release issued by Robinhood states that the firm intends […]

Crypto.Com Issues Official Statement Regarding Security Breach

On January 20, Crypto.com issued an official statement to share details of its losses during a recent breach of its security network. Nearly $34m Worth Of Digital Assets Were Stolen – Crypto.Com Part of the statement revealed that hackers stole “444.94 BTC, 4,836.27 ETH and about $66.3K worth of other digital assets” from its platform. […]

Intelligent Contracts Can Reshape Business 

Unlike in ancient times, when merchants relied on clay tablets to keep their agreements, today’s equivalents increasingly rely on blockchain contracts. They want to employ intelligent contracts, which are decentralized apps (DApps) stored on the blockchain as executable code and can be activated by any network user. Smart contracts, which Ethereum first introduced, currently enable […]