What is the impact of Ethereum market (the reason for the soaring of Ethereum)
What is the impact of Ethereum market? In the past few days, Ethereum prices have continued to rise. According to Cointelgraph, with the surge of market demand for ETH, more than 1 million Ethereum 2.0 deposit contract addresses have been received; In the near future, the price performance of Ethereum is as strong as that of Bitcoin
But for Ethereum, it is still an unknown field: because the development of DeFi has led to the growing popularity of ETH, many people begin to transfer their Cryptocurrency to various exchanges for trading and storage value, which has led to a large number of users flooding into the network to earn profits. But in fact, what is the impact on Ethereum market? There are two main factors: on the one hand, the circulation of Ethereum has increased, which makes its circulation larger; On the other hand, ETH has been continuously recognized as a new asset class, which has also brought more demand for ETH, thus promoting BTC to become mainstream
Reasons for Ethereum’s soaring
According to AICoin data, Ethereum’s price suddenly rose above the $300 threshold this morning. In less than 20 minutes, the Ethereum has skyrocketed from $34000 to a maximum of $48000, and has now risen by over 400%
Some analysts believe that the soaring growth of Ethereum is affected by large funds such as institutional buying and gray investment. At the same time, the recent rise of Bitcoin has also led to significant fluctuations in other Cryptocurrency. However, some analysts say that Bitcoin may continue to hit $3000.
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