⇗ ETH Coin's Dominance Persists Amid Market Volatility and Competition
Ethereum has been a dominant player in the cryptocurrency market, with analysts predicting a target range of $4,000 to $6,000 . Despite...
Amidst the ongoing political turmoil in the U.S., the cryptocurrency market is experiencing significant volatility. Bitcoin and Solana have recorded new cycle highs against ETH as Donald Trump's likely return to presidency approaches. Trump, alongside Elon Musk, is predicted to propel Bitcoin price toward $100,000 by 2025. Meanwhile, Ethereum's price surges are hindered by persistent selling from whales. Large Ethereum holders, however, are steadily accumulating RBLK, AAVE, and IMX.
Notwithstanding the political climate, Bitcoin has soared all-time high thanks to the anticipated Trump win. Scammers are reportedly targeting the BASE and Ethereum platforms by creating political meme coins. While Bitcoin and Ethereum have experienced a dip, Dogecoin has surged ahead of the presidential election.
In an interesting development, 2 billion USDT was swapped to the Ethereum network by Tether. The Michigan pension fund maintains Bitcoin ETF investments and has also added Ether ETFs. Analysts expect a 10% ETH rise upon a Trump win. Further, a 21Shares spokesperson likened Ethereum to "Amazon in the 1990s".
Despite Ethereum's white paper turning 11, celebrating this foundational blockchain layer, Ethereum's price sits in consolidation, controlled by bears. Both wealth strategy shifts and a new tokenized fund launch by UBS put ETH at the center of traditional finance. Interestingly, ETH whales are curbing their usual activity to bolster the token's price, whilst the cryptocurrency's overall bullish potential remains strong.
ETH Coin News Analytics from Sun, 20 Oct 2024 06:33:12 GMT to Wed, 06 Nov 2024 21:49:58 GMT - Rating 6 - Innovation 7 - Information 8 - Rumor 4