The Currency Analytics
By TCA PR
Another Win for Ethereum
Why Is Ethereum Continue to Surge Higher?
Despite the massive pump of Bitcoin (BTC), altcoins still find their way to have a leg-over it.
Bitcoin might have broken the $9,000 level on January 18th, which is for the first time since November 2019, but major altcoins like Ethereum (ETH) have seen with more massive…
At the beginning of 2020, ETH has already risen by 40% after surging from $128 to $175. In comparison, BTC has recorded only with 30%.
After the BTC block reward halving, the price of the leading crypto asset by market capitalization is expected to hit a fresh all-time high (ATH).
Last week, Ethereum’s price grew by more than 14%. That is a piece of clear evidence that ETH outperformed BTC as it only gained 8% during a similar time span.
In the BTC halving by May 2020, the daily supply rate will plummet to 900 BTC/day from 1,800 BTC/per. This event is expected to make the crypto asset more expensive and scarcer.
Once the Bitcoin became a more macro asset, then ETH can possibly experience better trading days.
With the macro crypto pullback influenced by Bitcoin, the Ethereum market gains are made possible.
For example, the geographical issues between the US and Iran at the beginning of 2020 made investors seek safe-haven assets, and it benefitted the BTC.
Later on, Ethereum picked up momentum after the global media was attracted by the decentralized finance growth.
As Ethereum is being benefitted by the uptrend of BTC and considered to be effective in growing distributed lending with the use of smart contracts, the altcoin resulted to an…
Currently, the rate of ETH is $189.49. Data analyst Skew noted that the ETH bulls expect that the Ethereum-linked future contracts will likely to burst to $600 in July 2020.
If you’ll remember, ETH ended 2019 with poor market performance. So, many are curious whether or not the second-largest cryptocurrency by the market can deliver impressive…