Dominance of Ethereum in the cryptocurrency market reaches 21%
Ethereum, the world’s second-largest digital currency, saw a solid bullish rally on Friday later ETH moved the price level of $3,980, the peak level since May 2021. Ethereum is presently looking at its all-time high of $4,170.
The overall market cap of ETH soared upstairs $460 billion on Friday
As per Coinmarketcap, the newest rally in ETH is triggering a sharp flow in the total crypto market supremacy of ETH. The digital asset currently accounts for around 21% of the overall crypto market cap.
Instead, Bitcoin saw a decrease in its total share of the crypto market as BTC’s supremacy touched 41%. Ethereum is now up by further than 25% in the previous seven days. The overall market cap of ETH was greater than before by more than $100 billion this week.
Market Analyst at eToro, Simon Peters, said,
“ETH is surging today and looks close to breaching the $4,000 level. This rally takes it closer to ETH’s all-time high of $4,177 set in mid-May this year. Often, other than general market sentiment, it can be hard to identify why a particular asset is rising in value, as momentum can carry values higher. But in the case of ether (ETH) right now, a number of factors are creating significant upward pressure on the price of the coin. Firstly, the number of transactions happening on the Ethereum network is increasing again, but perhaps more significantly the gas being used on the network is near all-time highs,”
Gold Rates - Today Gold Rate in Pakistan on, 26th Sept 2021
Karachi: Gold Rate in Pakistan today on 26th Sept 2021 is being sold...
Sheikh Maktoum appointed new finance minister, deputy prime minister of UAE
DUBAI: His Highness Sheikh Mohammed bin Rashid Al Maktoum, Prime Minister and...
Pakistan stocks likely to remain volatile next week
KARACHI: The benchmark KSE-100 Index shed 3.35 per cent in the week...
Pakistan starts exports of 4G smartphones
ISLAMABAD: Pakistan has started exports of 4G smartphones and the Airlink Communications...
China's 5G phone shipments surge nearly 80%
BEIJING: Shipments of 5G phones in China surged 79.7 per cent on...