Bitcoin
BTC$62 497.73

3.96%

Ethereum
ETH$3 342.45

4.34%

Tether
USDT$1.000284

-0.01%

Binance Coin
BNB$562.95

4.80%

Solana
SOL$151.79

4.57%

USD Coin
USDC$0.999953

-0.02%

Ether price hits 2-week high as London hard fork momentum builds


05 Jul 2021

#Ethereum

The second-largest cryptocurrency by market capitalization peaked north of $2,350 on Sunday, its highest reading since June 18. Bitcoin price stability and anticipation of major protocol upgrades are fueling investors’ appetite for ETH. Ether’s (ETH) $230 million options expiry on Friday appears to have shifted market sentiment in favor of the bulls, at least momentarily, as investors remain cautiously optimistic about the upcoming London hard fork and the prospect that Bitcoin (BTC) has established a firm bottom. 

ETH price update

ETH rose more than 6.5% to $2,370 on Sunday, the highest in over two weeks, according to Cointelegraph Markets Pro. Weekend trade volumes remained characteristically low at just over $18 billion. Ether's price sees renewed upside on Sunday. Source: Cointelegraph Markets Pro

At current values, Ether has a total market capitalization of $274.8 billion. The DeFi market, which is largely built on top of Ethereum, saw cumulative gains of 9% on Sunday. The total market value of DeFi coins is $67.3 billion, according to Coingecko data. Meanwhile, Bitcoin’s price crossed $35,600, having gained 2.6%.

The battle between the bulls and the bears was on display in the options market last month, with both camps expecting extreme price fluctuations for Ether leading into the options expiry on Friday. As Cointelegraph reported, the $2,200 price level is where the bulls start to increase their lead, as evidenced by the ratio of call options to put options.

London hard fork looms

Ethereum’s London hard fork, which contains the highly anticipated EIP 1559, launched on the Ropsten testnet on June 24, setting the stage for full mainnet implementation later in July. The hard fork is anticipated to have a positive impact on Ether’s value thanks to several proposal upgrades, including the transition to the eco-friendly proof-of-stake consensus and a new “scarcity” feature that will reduce the number of tokens in circulation.

Analysts expect investors to increase their exposure to ETH leading into the hard fork. On-chain data suggests this is already happening as Ethereum registered over 750,000 active addresses last week, exceeding Bitcoin by a considerable margin.

Analytics firm Santiment, which provided the data, described the active-address flippening as “historic.”


Related

Crypto may be ready for a new leg down
Crypto may be ready for a new leg down
Cryptocurrencies wait for a signal
Cryptocurrencies wait for a signal
What are dynamic NFTs?: Use cases and examples
What are dynamic NFTs?: Use cases and examples
Shanghai Upgrade Fires Up ETH and Altcoins
Shanghai Upgrade Fires Up ETH and Altcoins
Challenges of data accessibility in the NFT market
Challenges of data accessibility in the NFT market
Is the A.I. revolution about to pump Nvidia stocks?
Is the A.I. revolution about to pump Nvidia stocks?
Five tips for investing during a global recession
Five tips for investing during a global recession
What is NFT ticketing and how does it work?
What is NFT ticketing and how does it work?
The crypto market is cheaper than a trillion again
The crypto market is cheaper than a trillion again

Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 73.2% 46 $62 497.73 3.96% 9.31% $1 232 824 254 427 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 72.4% 49 $3 342.45 4.34% 9.45% $401 822 790 691 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 91.2% 1 $1.000284 -0.01% 0.05% $112 568 904 818 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 73.6% 47 $562.95 4.80% 9.27% $83 080 767 428 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 82.4% 29 $151.79 4.57% 7.35% $70 441 320 665 SOL 7 days price change
6 USD Coin (USDC) USDC USD Coin predictions 94.4% 1 $0.999953 -0.02% 0% $34 042 764 417 USDC 7 days price change
7 XRP (XRP) XRP XRP predictions 79.2% 37 $0.536378 1.46% 21.85% $29 932 767 297 XRP 7 days price change
8 Toncoin (TON) TON Toncoin predictions 85.6% 21 $7.40 0.90% 2.55% $18 561 948 714 TON 7 days price change
9 Dogecoin (DOGE) DOGE Dogecoin predictions 72.8% 49 $0.117199 3.86% 7.05% $17 008 481 517 DOGE 7 days price change
10 Cardano (ADA) ADA Cardano predictions 82.4% 34 $0.433404 0.42% 14.73% $15 550 967 146 ADA 7 days price change
11 TRON (TRX) TRX TRON predictions 79.6% 40 $0.138397 0.56% 10.28% $12 057 302 163 TRX 7 days price change
12 Avalanche (AVAX) AVAX Avalanche predictions 76.4% 44 $26.79 3.41% -0.93% $10 567 742 536 AVAX 7 days price change
13 SHIBA INU (SHIB) SHIB SHIBA INU predictions 80.4% 37 $0.000018 2.90% 7.01% $10 487 679 156 SHIB 7 days price change
14 Lido stETH (STETH) STETH Lido stETH predictions 96% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change
15 Wrapped TRON (WTRX) WTRX Wrapped TRON predictions 95.2% 1 $0.116354 -0.46% 0.23% $10 171 995 609 WTRX 7 days price change

Be the first to receive Cryptocurrency Price Predictions and Forecasts daily

Get cryptocurrency price predictions, forecasts with analysis and news right to your inbox.

© 2015-2024 Crypto-Rating.com

The usage of this website constitutes acceptance of the following legal information. Any contracts of financial instruments offered to conclude bear high risks and may result in the full loss of the deposited funds. Prior to making transactions one should get acquainted with the risks to which they relate. All the information featured on the website, including information about the cryptocurrencies and bitcoin is intended solely for informational purposes, is not a means of advertising them, and doesn't imply direct instructions for investing. Crypto Rating shall not be liable for any loss, including unlimited loss of funds, which may arise directly or indirectly from the usage of this information. The editorial staff of the website does not bear any responsibility whatsoever for the content of the comments or reviews made by the site users about cryptocurrencies. The entire responsibility for the contents rests with the authors. Reprint of the materials is available only with the permission of the editorial staff.