Ethereum Rushed 7 Percent in Less Than 24 Hours
Ethereum Rushed 7 Percent
Ethereum investors are wondering how high can this race go as Ether has seen a 7 percent rise which is about $261 in the past 24 hours.
Ethereum saw a 7 percent rush in about 24 hours between September 1 and September 2. The exchange rate for Ethereum in September 1th was about $3500 which has gone up to $3761 as of September 2nd. One of the most primary reasons for this raise in Ethereum’s price is the growth of the NFT market.
Ethereum stays in a very robust trend above the $3500 pivot level. There was even a break at about $3800, but the price is now adjusting lower.
A few days ago, on August 29, 2021, the price of Ethereum was near $3200. On September 2nd, along with Ethereum’s rise in price, Ethereum had a trading volume of $29 Billion in just 24 hours, retaining its spot as the second-major cryptocurrency in the world right after Bitcoin.
Want to know more about Ether? Keep READING!
Ethereum’s Price Prediction and All-Time High
Most crypto investors and traders believe that Ethereum is more advanced and efficient than even Bitcoin. One of the most important reasons for Ethereum’s rise in price and its popularity is the high usage of Ethereum in Non-Fungible Token (NFT) markets and Decentralized-Finance (DeFi). On the other hand, Ethereum already has much more Nodes than Bitcoin which makes it more efficient.
Additionally, Ethereum’s London Update might also be an excellent reason for rising the price of Ether since August 2021. Ethereum’s London Update burns thousands of Ethereum coins to be able to control its volatility.
Although the cryptocurrencies are well-known for their volatility and that no one can predict any accurate price for any of the cryptocurrencies, investors see a bright future for Ether’s Ecosystem as investors have decided to hold.
According to Lark Davis from The CryptoLark, “11.7 million #ethereum were bought between $3,120 and $3,226. That should serve as a pretty epic zone of price support. pic.twitter.com/Rcu0XpWSwJ”
According to WalletInvestor.com, Ethereum might rise up to $5358.21 in one year and up to $14,061.70 in the next five years. According to Capital.com, the price of Ethereum will raise over $6000 in 2026. While both the portals predicted a long term rise in its price, a $250 change in price since yesterday indicates that investors have set their faith back on the digital currency since its fall down in May 2021.
The highest price of Ethereum that was ever recorded was $4362.35 in May 12, 2021.
Did you know that crypto holds about 19 percent of the whole market?
