New levels for Ethereum will be the talk this week? The narrative has been very similar for the two most beautiful digital assets on the market in the past few months.
Reviving the scale of the upward momentum in the market, Bitcoin investors were enthused by Tesla’s announcement. In this context, after Tesla announced its 7.7% capital reserve investment, traders increased the buying pressure for the last 24 hours.
In fact, just hours later, Bitcoin reached a new high above $48,000. Ethereum, on the other hand, has surpassed the much anticipated $1,800 mark.
Expected Level for Ethereum
Both crypto assets are subject to minor revisions at the time of writing. The question is pertinent: Does it perform better than its Ethereum counterpart?
The accompanying chart highlights the percentage of growth recorded by both Bitcoin and Ethereum since their all-time highs. As you can see, the price of Bitcoin has doubled since it crossed $20,000. As a result, it recorded an increase of 133%.
Ethereum, on the other hand, grew 28% after breaking 2018 highs of $1,440. Let’s imagine here that Ethereum spawned in an ATH range at the same time. It is true that there is a higher gap to be filled in terms of price discovery. The outlook for the Ethereum ecosystem has also improved over the past 3 years.
Finally, Ethereum is currently in the process of migrating its network to a Proof-of-Stake system with more than $5 billion stakes in ETH.
Like Bitcoin, Ethereum has recorded high stock market breakouts in the last 12 months. In this context, users hold the asset with a long-term perspective. At the same time, the growth of ETH 2.0 is another bright sign of confidence in the world’s largest altcoin project.
The Reason For The Next Leap For ETH! With the launch of
CME ETH futures, the window to the enterprise space is now open. However, recent information from CoinShares shows that the asset class is already witnessing valuable inflows.
According to the aforementioned report, capital flows weighed heavily on Ethereum last week (before the launch of CME Futures). As a result, investments worth close to $195 million flowed into Altcoin. In fact, ETH represented about 80% of total market entries, a stock that includes organizations such as Grayscale, 3iQ, and 21Shares. The report said:
“We believe that investors are seeking diversity and are becoming increasingly comfortable with Ethereum fundamentals.”
Can ETH Reach 2000 Dollars Before BTC Passes 50 Thousand Dollars?
Pricing is not a race. But the collective bullish momentum could push ETH above $2,000 by the end of this week. So much so that at the moment, market sentiment is extremely positive for both cryptoassets. However, Ethereum has the possibility of a more adequate ROI overall.
Therefore, it would not be a surprise for Ethereum to surpass $2,000. In fact, further price increases beyond the level in question will also be the subject of speech.