Ethereum (ETH) Has Not Found Its Value Yet

in LeoFinance3 months ago (edited)

The cryptocurrency market continues to grow stronger and bigger every day. The total value of the markets exceeded $ 2.4 trillion. Bitcoin (BTC) again wants to catch an uptrend and surpass $ 60,000. Ethereum (ETH) wants to continue its successful rise. For now, everything is going well on the ETH side and it continues its success. Ethereum (ETH) hit a new ATH, surpassing $ 3600 for the first time, and surpassing $ 413 billion in market cap. ETH broke the all-time record at $ 3605.40. Will Ethereum (ETH) be able to continue its successful rise? and how high can it go?

Ethereum continues its upward trend that it has caught for a month. ETH, which was around $ 1950 last month, has caught a new uptrend. It gained 85% value compared to last month and managed to break the all-time record with $ 3605. Ethereum (ETH), the second most valuable cryptocurrency in terms of market cap, seems to continue its successful rise. After the price adjustment, ETH dropped a little, which is very normal but I don't think this will take long. There may be a sudden decrease due to the sales demands, but it will recover and catch a new rise in a short time. It is currently trading at $ 3460.

It is known that the biggest problem in Ethereum is transaction fees. As these transaction fees fall, ETH is incredibly affected. With the latest Berlin update, transaction fees have been reduced by a third. While the transfer fee on Ethereum was previously around 300 Gwei, after the update the transfer fee dropped to an average of 75 Gwei. I think even 75 Gwei is actually very high, but even this drop seems to be seen as dApp (Decentralized Applications) application and new financial solutions such as DeFi (Decentralized Finance), AMM (Automated Market Maker) are switching back to Ethereum. With the new updates in the coming months, transfer fees are expected to decrease further, which will further increase the interest in ETH.

Also, Binance Smart Chain is much cheaper and faster than Ethereum, which is why it attracts new investors and new projects. Therefore, BNB, the local token of Binance, the world's largest cryptocurrency exchange, is also very interested. But Ethereum continues to lead in this field. The Ethereum Berlin update took place last month, it positively impacted the markets, and there will be a London update in the coming months. I think this update will affect the markets in a similar way. In addition, Ethereum core developer Tim Beiko announced that a highly anticipated Ethereum Improvement Proposal will go live by July 14. Following these updates, the Ethereum 2.0 update is expected and it is estimated that the transfer fees will be much lower after this update. Ethereum (ETH) will reach higher if everything goes as planned.

Everything is going well on the Ethereum (ETH) side, and when I generally examine the markets, ETH investors are in no hurry to sell. Most investors hold their ETH. Investors avoid selling because they believe ETH will gain more value. This is an indication that ETH will set new records in the coming days.

I would like to state that the price difference between Ethereum (ETH) and Bitcoin (BTC) is also decreasing day by day. In the past, institutional investors generally preferred BTC, but after the latest developments, investments in ETH appear to have increased. they seem to have done it. BTC continues to lead in this area, and institutional investors are more interested in BTC. However, it is seen that new institutional investments in the ETH side are increasing day by day and I think they will increase more. I think he will come to ETH. With new investments and new projects, I estimate that ETH will exceed $ 4,000 this month. Maybe ETH can even try to exceed $ 5,000. I think ETH will exceed $ 10,000 by the end of this year.

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