-
BTC 60,817.98 (-4.63%) -
ARS 1,070.90 (-0.19%) -
ETH 3,022.01 (-5.82%) -
SOL 127.22 (-7.33%) -
PEPE <0.01 (-8.08%) -
DOGE 0.13 (-6.54%) -
XRP 0.50 (-2.49%) -
ENA 0.82 (-11.27%) -
WIF 2.51 (-8.86%) -
ETHFI 3.92 (-11.79%) -
NEAR 6.18 (-8.75%) -
BONK <0.01 (-10.10%) -
ORDI 34.13 (-19.07%) -
AVAX 32.80 (-6.45%) -
BOME <0.01 (-8.04%) -
RUNE 4.85 (-4.79%) -
TRX 0.12 (+0.80%) -
PENDLE 4.26 (-11.81%) -
WLD 4.56 (-3.06%) -
OP 2.54 (+2.09%) -
SUI 1.15 (-3.27%) -
ADA 0.44 (-3.07%) -
JTO 3.21 (+4.29%) -
RNDR 7.38 (-6.10%) -
BCH 435.80 (-5.90%)
Ethereum network strength macroeconomic factors back ETHs rally to 25K
Published: 2024-02-10
1. Main Topic: Ethereum's Rally to $2.5K Ethereum has experienced a significant rally,reaching a price of $2.5K. There are several macroeconomic factors contributing to this surge in value. Firstly,the growing interest and adoption of decentralized finance (DeFi) platforms built on the Ethereum network have fuelled demand for Ether (ETH),the native cryptocurrency. The DeFi industry has witnessed exponential growth,attracting more users and investment. Additionally,Ethereum's upgrade to Ethereum 2.0,which aims to improve scalability and security,has instilled confidence among investors and developers. The proposed implementation of a proof-of-stake consensus mechanism will also reduce energy consumption,making Ethereum more sustainable. Finally,the overall bullish sentiment in the cryptocurrency market has led to increased investment in Ethereum,pushing its price upward.
2. Topic 1: Decentralized Finance (DeFi) and Ethereum Decentralized Finance (DeFi) has emerged as one of the primary drivers behind Ethereum's rally to $2.5K. DeFi platforms,built on the Ethereum network,offer users financial services without intermediaries,such as lending,borrowing,and trading. The rapid growth of the DeFi industry has attracted significant attention and investment. As a result,the demand for Ether (ETH) has skyrocketed,driving up its price. Investors are recognizing the numerous possibilities DeFi offers,from providing financial services to underserved populations to facilitating global access to capital. With Ethereum at its core,the future of DeFi looks promising.
3. Topic 2: Ethereum 2.0 Upgrade and its Impact Ethereum's transition to Ethereum 2.0 is a significant development that has contributed to its current rally. The upgrade aims to address scalability and security concerns,enhancing the overall performance of the network. By implementing a proof-of-stake consensus mechanism,Ethereum 2.0 will reduce energy consumption and offer increased transaction throughput. This upgrade has instilled confidence among investors and developers,as it promises to make Ethereum more efficient and sustainable. With the scalability issue resolved,Ethereum can support a greater number of users and transactions,further boosting its value and network utility.
4. Topic 3: Bullish Sentiment and Overall Cryptocurrency Market The prevailing bullish sentiment in the cryptocurrency market has played a vital role in Ethereum's rally. As Bitcoin,the leading cryptocurrency,continues to reach new all-time highs,it has a spillover effect on other digital assets,including Ethereum. The overall positive market sentiment,driven by increased institutional adoption and mainstream recognition,has led to a surge in investment across the cryptocurrency space. Ethereum,being the second-largest cryptocurrency by market capitalization,has benefited greatly from this trend. As investors seek alternative investment opportunities outside of traditional markets,the demand for Ethereum has grown,resulting in its rally to $2.5K. In conclusion,Ethereum's rally to $2.5K can be attributed to various factors,including the growing demand for Ether due to the rise of DeFi platforms,the upgrade to Ethereum 2.0,and the overall bullish sentiment in the cryptocurrency market. These developments highlight the increasing prominence and importance of Ethereum in the blockchain ecosystem.
Reference: cointelegraph.com
The most traded coin
(Update every 1 hour)
| at | from | is ($US) | turnover ($) |
|---|---|---|---|
| 1 | BTC |
60,817.98 | 3,378,935,922.30 |
| 2 | ARS |
1,070.90 | 2,240,278,414.70 |
| 3 | ETH |
3,022.01 | 1,710,083,042.43 |
| 4 | SOL |
127.22 | 779,757,524.21 |
| 5 | PEPE |
<0.01 | 389,176,520.31 |
| 6 | DOGE |
0.13 | 226,557,606.17 |
| 7 | XRP |
0.50 | 198,428,703.37 |
| 8 | ENA |
0.82 | 189,395,478.91 |
| 9 | WIF |
2.51 | 152,626,197.42 |
| 10 | ETHFI |
3.92 | 152,352,937.12 |
| 11 | NEAR |
6.18 | 100,948,981.12 |
| 12 | BONK |
<0.01 | 96,872,325.42 |
| 13 | ORDI |
34.13 | 95,527,220.11 |
| 14 | AVAX |
32.80 | 93,669,877.94 |
| 15 | BOME |
<0.01 | 91,881,954.76 |
| 16 | RUNE |
4.85 | 84,135,669.90 |
| 17 | TRX |
0.12 | 82,302,842.45 |
| 18 | PENDLE |
4.26 | 76,543,813.30 |
| 19 | WLD |
4.56 | 70,889,366.70 |
| 20 | OP |
2.54 | 65,499,061.27 |
| 21 | SUI |
1.15 | 58,718,313.01 |
| 22 | ADA |
0.44 | 55,504,872.25 |
| 23 | JTO |
3.21 | 53,824,356.35 |
| 24 | RNDR |
7.38 | 52,597,692.43 |
| 25 | BCH |
435.80 | 51,131,459.92 |
Coins with rapidly rising prices
(Update every 1 minute)
ATOM
STEEM
FARM
SFP
STRK
GAL
USDPThe price of coins is falling rapidly.
(Update every 1 minute)
| at | from | is ($US) | reduce (%) |
|---|---|---|---|
| 1 |  COMBO |
0.63 | -20.55 |
| 2 | ORDI |
34.13 | -19.07 |
| 3 |  COS |
0.01 | -17.50 |
| 4 |  ELF |
0.55 | -16.02 |
| 5 |  AR |
30.43 | -15.42 |
| 6 |  SEI |
0.54 | -14.32 |
| 7 |  LDO |
1.88 | -14.02 |
| 8 |  POND |
0.02 | -13.16 |
| 9 |  ATA |
0.21 | -12.82 |
| 10 |  WAVES |
2.26 | -12.69 |
| 11 |  STX |
2.15 | -12.40 |
| 12 |  ORN |
1.49 | -12.34 |
| 13 | PENDLE |
4.26 | -11.81 |
| 14 | ETHFI |
3.92 | -11.79 |
| 15 |  ANKR |
0.05 | -11.62 |
| 16 |  CHR |
0.27 | -11.43 |
| 17 |  1000SATS |
<0.01 | -11.34 |
| 18 | ENA |
0.82 | -11.27 |
| 19 |  OM |
0.65 | -11.23 |
| 20 |  ENS |
14.66 | -11.21 |
| 21 |  ERN |
3.72 | -11.18 |
| 22 |  NEO |
17.04 | -11.07 |
| 23 |  ACH |
0.03 | -10.67 |
| 24 |  OMNI |
18.32 | -10.50 |
| 25 |  ASTR |
0.09 | -10.50 |
| 26 |  SKL |
0.08 | -10.47 |
| 27 |  IRIS |
0.02 | -10.46 |
| 28 |  ACE |
4.75 | -10.42 |
| 29 |  RPL |
19.41 | -10.39 |
| 30 | BONK |
<0.01 | -10.10 |
Bitcoin's Greed and Fear Index.
?54
Neutral
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US news that has a significant impact on the market
| at | news | day | date | time |
|---|---|---|---|---|
| 1 | ADP Non-Farm Employment Change | Wednesday | 01-05-2024 | 13:15 |
| 2 | Final Manufacturing PMI | Wednesday | 01-05-2024 | 14:45 |
| 3 | ISM Manufacturing PMI | Wednesday | 01-05-2024 | 15:00 |
| 4 | JOLTS Job Openings | Wednesday | 01-05-2024 | 15:00 |
| 5 | ISM Manufacturing Prices | Wednesday | 01-05-2024 | 15:00 |
| 6 | Construction Spending m/m | Wednesday | 01-05-2024 | 15:00 |
| 7 | Wards Total Vehicle Sales | Wednesday | 01-05-2024 | 15:15 |
| 8 | Crude Oil Inventories | Wednesday | 01-05-2024 | 15:30 |
| 9 | Federal Funds Rate | Wednesday | 01-05-2024 | 19:00 |
| 10 | FOMC Statement | Wednesday | 01-05-2024 | 19:00 |
| 11 | FOMC Press Conference | Wednesday | 01-05-2024 | 19:30 |
| 12 | Challenger Job Cuts y/y | Thursday | 02-05-2024 | 12:30 |
| 13 | Unemployment Claims | Thursday | 02-05-2024 | 13:30 |
| 14 | Prelim Nonfarm Productivity q/q | Thursday | 02-05-2024 | 13:30 |
| 15 | Prelim Unit Labor Costs q/q | Thursday | 02-05-2024 | 13:30 |
| 16 | Trade Balance | Thursday | 02-05-2024 | 13:30 |
| 17 | Factory Orders m/m | Thursday | 02-05-2024 | 15:00 |
| 18 | Natural Gas Storage | Thursday | 02-05-2024 | 15:30 |
| 19 | Average Hourly Earnings m/m | Friday | 03-05-2024 | 13:30 |
| 20 | Non-Farm Employment Change | Friday | 03-05-2024 | 13:30 |
| 21 | Unemployment Rate | Friday | 03-05-2024 | 13:30 |
| 22 | Final Services PMI | Friday | 03-05-2024 | 14:45 |
| 23 | ISM Services PMI | Friday | 03-05-2024 | 15:00 |
| 24 | FOMC Member Williams Speaks | Saturday | 04-05-2024 | 01:15 |
