Bitcoin
BTC$61 285.60

7.63%

Ethereum
ETH$3 338.95

2.80%

Tether
USDT$1.000847

0.04%

Binance Coin
BNB$411.70

3.92%

Solana
SOL$115.79

6.61%

XRP
XRP$0.572503

-2.64%

Ethereum continues wild run, ETH price breaks $4,000 for the first time


10 May 2021

#Ethereum

The second-largest digital asset doesn't look to be stopping its meteoric rise anytime soon. Ether (ETH) eclipsed $4,000 for the first time on May 10, passing the psychologically significant barrier on multiple exchanges including Coinbase. The new milestone comes just a week after breaking $3,000.

Last week, ETH overtook Bank of America as the 28th largest asset in the world. But at $454.49 billion as of today, ETH has now eclipsed the market cap of consumer staples giants Wal-Mart and Johnson and Johnson, and is knocking at the door of JPMorgan Chase — the largest American bank by assets under management.

Part of the rise may be linked to increasing institutional interest in the asset. This week, a Coinshares report said that institutions bought over $30 million in ETH at the end of April. Money managers are thought to now own $13.9 billion in ETH or ETH vehicles.

Likewise, there have been significant strides in adoption. Last week the European Investment Bank announced that they would be issuing a $120 million bond on the world’s largest layer-1 in collaboration with major banking entities such as Goldman Sachs. Additionally, the growth of decentralized finance — one of Ethereum’s key communities and use cases — continues at a remarkable clip.

However, the most bullish catalysts on the horizon are a pair of major infrastructure upgrades to the network: EIP-1559 and ETH 2.0. EIP-1559, now scheduled to be included in the “London” hard fork, will include an overhaul of the ETH fee structure and is expected to decrease gas costs significantly while also potentially making ETH a more deflationary asset.

ETH 2.0, in turn, will transition the network to a proof-of-stake consensus model, which is expected to decrease sell pressure and encourage holding the asset. The remarkable run has even prompted renewed speculation that there could be a “flippening” on the horizon — a long-anticipated event among the Ethereum community where ETH overtakes BTC in market capitalization.


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Top Cryptocurrencies with Price Predictions

# Crypto Prediction Accuracy CVIX Price 24h 7d Market Cap 7d price change
1 Bitcoin (BTC) BTC Bitcoin predictions 66.4% 70 $61 285.60 7.63% 19.00% $1 203 670 607 100 BTC 7 days price change
2 Ethereum (ETH) ETH Ethereum predictions 66% 76 $3 338.95 2.80% 13.80% $401 178 537 437 ETH 7 days price change
3 Tether (USDT) USDT Tether predictions 92% 1 $1.000847 0.04% 0.08% $98 474 236 270 USDT 7 days price change
4 Binance Coin (BNB) BNB Binance Coin predictions 67.2% 66 $411.70 3.92% 9.81% $61 566 465 512 BNB 7 days price change
5 Solana (SOL) SOL Solana predictions 76.8% 42 $115.79 6.61% 10.92% $51 249 437 073 SOL 7 days price change
6 XRP (XRP) XRP XRP predictions 82.8% 29 $0.572503 -2.64% 4.69% $31 255 388 750 XRP 7 days price change
7 USD Coin (USDC) USDC USD Coin predictions 94.8% 1 $0.999889 0% 0% $28 645 014 753 USDC 7 days price change
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15 Lido stETH (STETH) STETH Lido stETH predictions 92.8% 1 $2 941.39 -0.40% -3.32% $10 258 752 564 STETH 7 days price change

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