Altcoin
Ethereum is kicking off a historic rally for Altcoins!
7.22pm ▪ 3 minute read ▪ by Eddy S.
The cryptocurrency industry is in turmoil as market indicators suggest an imminent bull run led by Ethereum! This could push altcoin market capitalization to new all-time highs. This optimism is fueled by several key factors, including regulatory developments and the on-chain activity of major market players.
Ethereum paves the way to new highs!
According to renowned crypto analyst Michaël van de Poppe, the market capitalization of altcoins, also known as TOTAL2, has completed its recent correction. It is now well positioned to reach a new all-time high. Van de Poppe predicts that the price of Ethereum could reach its all-time high in the next two to four months.
THE #Altcoins the market capitalization has finished its correction.
The next step: reach the all-time high, which is about 60-70% from here.
I think #Ethereum will probably reach it in the next 2-4 months. pic.twitter.com/c2chHPpJbW
— Michaël van de Poppe (@CryptoMichNL) May 21, 2024
Investors are therefore encouraged to closely monitor the Ethereum ecosystem, including layer two projects such as Arbitrum and Optimism. Other altcoins, including memecoins, are expected to follow the same bullish trajectory as Ethereum in the near future.
Cryptocurrencies: the market is reborn from its ashes!
The overall cryptocurrency market has recently seen a significant increase, with total capitalization increasing by more than 8% to approximately $2.76 trillion. This bullish momentum is largely attributed to the positive anticipation surrounding the US House of Representatives vote on cryptocurrencies I count dubbed the Financial Innovation and Technology for the 21st Century Act (FIT21). Additionally, the SEC’s impending decision on Ethereum ETFs also played a role.
Furthermore, this enthusiasm for Ethereum and altcoins is also strengthened by the growing approval probability of Ethereum ETFs, which has risen to 75%, compared to 25% previously. This anticipation caused the price of Ethereum to rise almost 18% and triggered gains across the altcoin sector.
It should be noted that Ethereum has often been a major catalyst for the bullish trend of altcoins. With a market capitalization of $352.50 billion, Ethereum represents over 17% of the total market capitalization, which includes over 20,000 crypto assets.
Finally, the altcoin market appears poised for a bull run that could redefine the digital financial landscape. Experienced investors will keep an eye on regulatory developments and major trader activity to navigate this promising period for cryptocurrencies.
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Eddy S.
The world has evolved and adaptation is the best weapon to survive in this wavering universe. The crypto community manager at the base interests me in everything that touches or comes close to the blockchain and its derivatives. With a view to sharing my experience and getting to know a domain that I am passionate about, I am the one who writes informative and décontractés a la fois articles.
DISCLAIMER
The views, thoughts and opinions expressed in this article are solely those of the author and should not be relied upon as investment advice. Do your research before making any investment decisions.