Ethereum prices push an all-time high in the crypto market

Although bitcoin has captured the cryptocurrency market, Ethereum has never been behind in this race.There is a very large gap between the prices of bitcoins and ethereum, but recently, Ethereum crossed the whole-timehighest price of its own, which is $4000. Earlier, many predictions were made regarding the rise in prices of Ethereum, but recently, the increase in value took place because of VanEck filing a US ETF last week.Also, several crypto analysts made predictions regarding a rise in the price of Ethereum. Still, the one who is most prominent among all named Megan Kasper predicted that it could even go as high as US$8000 to US$10000.

Earlier, prices of ethereum do not include past 4000 every day, but on Monday, it took a price hike of 7% from the past 24 hours and went up to US$4165.It was 5:20 AM, and by the data provided at this software, the digital token reached its highest price in the last two years.Before the 7% increase in the price of ethereum, it also took a 16% hike in its previous price, which was also one of the most significant rises in the digital coin price.Also, the 16% hike took place within just five days, which is very great to predict that it can even go higher in the coming days.

The cause

The recent hike in the price of ethereum made it the second-best cryptocurrency existing in the cryptocurrency market. It is assumed that the price hike experienced by ethereum in its value is because of the asset manager VanEck mentioning Ethereum in its exchange-traded fund.Earlier, the asset manager has also contributed to the rise in bitcoin by mentioning bitcoin ETF in its list. By the action of VanEck, the securities and exchange commission postponed its decision till the end of July.It’s not just the VanEck that leads to the rise in prices of Ethereum, but there are several other reasons as well.

Plenty of other investors are betting that Ethereum would experience a further increase in its prices because of the decentralized finance applications. Non-refundable tokens can also be an incredible reason behind the further rise in the prices of ethereum.Paolo Ardoino, Who is holding the post of chief executive of technology at ethereum, made a statement that decentralized cryptocurrencies and their potential can be easily used for replacing the intermediaries that can be very helpful with automated contracting and also can help in recognization among the traditional banking system of the countries.He added that this incredible technology of decentralized ledger should also be added onto the technological force that may disrupt the finance and other businesses.

The predictions made by analyst Megan Kasper are considered to be very appropriate and accurate. When ethereum was revolving around US$1200, she predicted that it could go even up to US$3400. She is the co-founder of the digital asset investment company Magnetic. She now has predicted that it can touch the price cap of US$8000-US$10,000 by the end of this year, and it can also be considered to be very accurate to invest money in this digital coin.She also mentioned that Yahoo’s finance life which is also in ethereum driven network upgrade in a significantly less energy-intensive way than the bitcoins, which is known as proof of work, could also lead to a further increase in its value.

In her statement, she also mentioned that the proof of stake used for block validation could also reduce the carbon emissions by 99.9%, which can further contribute to the reduction in global air pollution, making ethereum a very green technology.The to describe the significant reasons because ethereum is experiencing a hike, and its price can also boost the price gap of ethereum up to the $1 trillion market cap at which bitcoin is standing today.It is not just Kasper who predicted the rise in prices of ethereum, but a Fundstrat GlobalAdvisor’s head of digital asset research named David Gaider made such a prediction. He said that either can also go as high as US$10,500 by the end of 2021, according to the market data available now.

The predictions made by such expertsabout the prices of ethereum can be very helpful for cryptocurrency investors. If you are looking forward to investing your money in some cryptocurrency but unable to invest it in bitcoin due to its high price, you can go for ethereum. There is a very high chance of increasing its prices, and therefore it is a suitable second option after bitcoin.

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