Based on the rise of the ETH/BTC pair, Pal said that Ethereum shows strength over Bitcoin and it could lead the way to move the crypto market out of correction.
Ethereum touches down on the most sensitive topic i.e. energy consumption by blockchain and says that it will reduce nearly 99% of its current energy use by transitioning to the PoS model.
Bybit has also revealed their plans for the grand opening of cloud mining services on May 20.
Elon Musk’s tweets send ripple across the crypto market, with the overall crypto market cap taking a dip under $2 trillion before recovering once again.
Vitalik Buterin offloaded nearly 50 million SHIB coins through wallet transactions while donating the proceeds of the sale to India’s Crypto Covid Relief Fund. He also donated to the Ethereum-based fundraising platform Gitcoin.
However, despite the bullish calls, UNSW associate professor Elvira Sojli thinks the Ethereum price will trade around $1,850 by the end of 2025.
Ethereum has been one of the best-performing digital assets this year. The digital coin’s year-to-date gains are over 480% and despite its slight slide, its value is up by 65% over the last 30 days and 7.4% in the last 24 hours.
As of the press moment, Uniswap has generated $7.1 million in fees over the past 24 hours. Meanwhile, Bitcoin’s 1-day fees reached $4.6 million. Both Uniswap and Bitcoin are remaining behind Ethereum the daily fees’ revenue of which has reached $117.2 million.
Despite the high fees, institutional investors are still interested in Ethereum based on future growth prospects.
Ethereum (ETH) continues its mega rally taking its year-to-gains at above 460%. As ETH Mega bull run continues, the demand for Ether derivative products increases.
The attainment of the new ATH by Ethereum has duly reawakened the prospects of the digital currency to take Bitcoin over in terms of market capitalization in the future.
The report by the Federal Reserve Bank of St Louis recognized Ethereum as the leader in the smart contract aspect with the majority of the DeFi protocols built on it.
The digital payments company said that its Ethereum investment is part of the company’s long-term strategy to gain exposure to digital assets. The company is willing to expose 5% of its cash reserve and investment portfolio to crypto.
The cryptocurrency indices use Lukka, a crypto data provider, as the data source for digital asset pricing and reference data.
The spike in Ethereum price rejuvenated the cryptocurrency bulls after the entire market consolidated for around two weeks.