ETH Mammoth Rally Continues As Altcoin Records Another ATH Above $ 3,500

Ether ($ ETH), the second largest cryptocurrency, has continued its massive rally to record another ATH above $ 3,500, up 12% in the past 24 hours and 37% last week. ETH continued to rise amid Bitcoin dominance, which fell to 46.8%, a three-year low. As well as strong indicators in the chain, including decreasing market supply and increasing ETH bets on ETH 2.o. The second largest cryptocurrency has doubled in 2017 and looks ready for a parabolic move just like Bitcoin has done in the past 4 months. Bitcoin and most altcoins are still recovering from the market correction that occurred a few weeks ago, On the other hand, Ether has not only recovered from its low of $ 1945, many other digital assets are still trying to consolidate past losses during the same period. Enterprise Demand Behin® Rising Ether Price Ether traded below $ 100 in the same period last year, and its current price is an indicator of its high value and increased demand. However, in addition to the increased stakes and shrinking market supply, many institutions, including former Bitcoin critic JP Morgan, have begun to consider adding Bitcoin to their magazines. In his latest post, JP Morgan discussed the depth of the Ether market and how quickly he managed to compensate for most of the losses in the correction week at the beginning of the week. The increased institutional demand also reflects the increased value of Grayscale's Ethereum Fund, an institutional investment vehicle in the absence of any regulated product in the market. The value of Grayscale Ethereum Trust reached nearly $ 10 billion last week. The growing popularity of Ether led to the launch of ETH ETH in Canada last month, making it the first regulated ether-based investment in North America. Post-ETH Mammoth Rally Continues As Altcoin Records Another ATH Above $ 3,500 Appea

Join the Discussion

  • BrokerEUR/USD
    FX Pro 0.91pips. (variable) margin: 3.33%
  • Back to top