The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
All Alt Coin

Ethereum (ETH) Rallies 8% Shooting Past $3,800 and Hitting Three-Month High

by Miki 09/02/2021
by Miki 09/02/2021 0 comment

The Ethereum (ETH) price rally comes amid strong on-chain fundamentals and depleting exchange reserves. The London hard fork has also fueled the bull run.

The world’s second-largest cryptocurrency Ethereum (ETH) is on an unstoppable bull run. Over the last 24 hours, the Ethereum price has gained another 8% shooting past $3,800 levels. This is for the first time in the last three months that the ETH price has moved past $3,500.

Ethereum (ETH) has added 50% to its price over the last month to reach this milestone. Another 20% rally in the ETH price can put it into a price discovery zone and a new all-time high. The latest price rally in ETH comes amid the solid bull run in the altcoin space.

Although Bitcoin (BTC) had been consolidating in the range between $47,000-$50,000, ETH has continued its staggering bull run. On the other hand, the recent ETH price run comes amid improving on-chain metrics.

Over the last few months, the ETH reserves across all exchanges have been on a continuous decline. As per the blockchain analytics firm, the amount of ETH held in exchange wallets has dropped from 19.45 million on Aug. 18 to 18.75 million on Wednesday, September 1.

The falling exchange reserves are a bullish indicator since analysts expect investors to move their ETH to cold wallets. Meaning, they are likely to hold it for the long term decreasing the selling pressure.

On the other hand, a large number of ETH have been moving to Ethereum 2.0 smart contracts. These smart contracts are currently holding nearly 7 million ETH coins worth a staggering $25 billion.

Also, the recent London hardfork upgrade of the Ethereum blockchain has fueled the rally in the ETH price. The EIP-1559 protocol implementation also introduced the ETH burning mechanism.

Will Ethereum (ETH) Overtake Bitcoin?

Ethereum (ETH) has certainly outperformed Bitcoin (BTC) over the last year. While the Ethereum (ETH) price has gained 10x over the last year, Bitcoin is up by 5x on the yearly chart. Clearly, Ethereum outperforms Bitcoin by 2:1.

Besides, many analysts have now started thinking that Ethereum will overtake Bitcoin in the long run. If ETH continues to beat BTC gains at the current rate, it certainly can. However, ETH valuations are less than 50% of the Bitcoin valuations as of date.

Dmitry Mishunin, founder and CEO of smart contract audit firm HashEx, predicts that ETH could quite easily flip BTC in the near term. He added:

“Bitcoin only relies on its capped supply and the first-mover advantage, a trend many investors are beginning to substitute for unique technology that can drive a blockchain-dominated future.”

Jon Ovadia, founder and CEO of crypto exchange Ovex also believes that Ethereum has better fundamentals than Bitcoin. Ovadia is bullish about the recent Ethereum network upgrade which makes the blockchain deflationary. He added:

“Thus far, about 146,878.7 ETH (worth approximately $492.3 million) have been burnt from the total circulating supply. The potential for a more superior Proof-of-Stake infrastructure through the highly anticipated launch of Ethereum 2.0 will also make the blockchain more usable, thus driving the coin’s utility and its price growth.”

To find more news from the crypto market, please, follow the link.

next Altcoin News, , Cryptocurrency news, Ethereum News, News

Thank you!

You have successfully joined our subscriber list.

Subscribe to our telegram channel. Join

Source link

Views: 2
ETHEthereumHighhittingRalliesShootingThreeMonth
Share
0
FacebookTwitterPinterestEmail
previous post
As Bitcoin Breaks $50k, Indicators Show A Calm Before The Storm
next post
Market Analyst Sees Bitcoin Peaking At $100,000 By Year-End

Related Posts

Are Solana’s bulls really strong enough to halt...

12/29/2021

IXFI Announces Launch of New-Age Exchange Platform

12/29/2021

Litecoin repeating history will have this effect on...

12/28/2021

More than just a game – what GameFi...

12/28/2021

Even as network hits one million users, FTT...

12/28/2021

Fintech Expert Makes Six Bold Predictions for Crypto...

12/28/2021

A recovery rally in play for Sushiswap, as...

12/28/2021

SEC Accused of Deliberately Trying to ‘Kill’ XRP...

12/28/2021

Recent gains may finally boost Aave’s dominance in...

12/28/2021

Santa Floki Price Rallies 5,000% after Elon Musk’s...

12/28/2021

Leave a Comment Cancel Reply

Save my name, email, and website in this browser for the next time I comment.

For security, use of Google's reCAPTCHA service is required which is subject to the Google Privacy Policy and Terms of Use.

I agree to these terms.

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

    12/29/2021
  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

    12/29/2021
  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

    12/29/2021
  • Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

    12/29/2021
  • Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

    12/29/2021

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)

About Us

About Us

Our mission is to develop a community of people who try to make financially sound decisions. The website strives to educate individuals in making wise choices about Cryptocurrencies, blockchain, Market, and more.

Featured Posts

  • Will NYC’s Incoming Mayor Eric Adams Make the City the Crypto Hub to Watch?

  • SEC’s Filing Shows Blackrock Made $369,137 Profits on Its Bitcoin Futures

  • Andreessen Horowitz Leads $111 Million Token Sale for Helium’s HNT

Recent Posts

  • Are Solana’s bulls really strong enough to halt further decline

  • Elon Musk thinks this individual could be the potential Bitcoin (BTC) creator Satoshi

  • Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

Categories

  • All Alt Coin (2,280)
  • Analysis (312)
  • Bitcoin (1,302)
  • Blockchain (1,068)
  • Dogecoin (700)
  • Ethereum (304)
  • Learn (139)
  • Ripple (149)
  • Facebook
  • Instagram
  • Linkedin
  • Contact
  • Privacy Policy
  • Terms & Conditions

@2021 -thecryptonewsweb.com - All Right Reserved.

The New Jersey Crypto News
  • Home
  • News
    • Bitcoin
    • Ethereum
    • Ripple
    • Dogecoin
    • All Alt Coin
  • Learn
    • Learn

      How to Trade Futures Contracts on Changelly PRO

      11/14/2021

      Learn

      EtherLite (ETL) Cryptocurrency Price Prediction

      11/12/2021

      Learn

      How to Trade Bitcoin Futures

      11/12/2021

      Learn

      How to Start Trading Cryptocurrency

      10/21/2021

      Learn

      How to Create Your Own Cryptocurrency

      10/13/2021

  • Analysis
    • Analysis

      Bitcoin is Struggling, But It’s Too Early to Say Bulls Have Given Up

      12/29/2021

      Analysis

      Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

      12/29/2021

      Analysis

      Ethereum Recovery Could Soon Fade If ETH Fails To Surpass $4k

      12/28/2021

      Analysis

      Charles Hoskinson Shares Cardano Plans for 2022

      12/28/2021

      Analysis

      Bitcoin Prints Bullish Pattern, Why BTC Could Surge To $50K

      12/27/2021

  • Blockchain
    • Blockchain

      Iran Bans Crypto Mining to Avert Major Blackouts in Winter Season

      12/29/2021

      Blockchain

      Italian Sports Car Maker Ferrari Inks Multi-Year Deal With Blockchain Firm Velas Network AG…

      12/29/2021

      Blockchain

      ProShares Files for New Metaverse ETF With U.S. SEC

      12/28/2021

      Blockchain

      Ozzy Osbourne Reveals Cryptobatz NFT Project Paying Tribute to His Iconic Bat Bite –…

      12/28/2021

      Blockchain

      Binance Trading Platform Licenses in Bahrain, Canada

      12/28/2021

  • Market Cap
  • RelevantRelevant(REL)$0.825.35%
  • Heart NumberHeart Number(HTN)$0.000553-30.47%
  • TadpoleTadpole(TAD)$7.32-1.76%
  • SEENSEEN(SEEN)$2.05-2.27%
  • EvedoEvedo(EVED)$0.082301-0.80%
  • MarginswapMarginswap(MFI)$0.184214-2.17%
  • SakeTokenSakeToken(SAKE)$0.0127234.37%
  • WTF TokenWTF Token(WTF)$0.0113500.16%
  • BNSD FinanceBNSD Finance(BNSD)$0.005460-5.83%
  • RobotinaRobotina(ROX)$0.00266138.50%
  • CageCage(C4G3)$0.005010-3.67%
  • YAM v2YAM v2(YAMV2)$4.70-1.41%
  • PolkaBridgePolkaBridge(PBR)$0.439876-7.02%
  • DSLA ProtocolDSLA Protocol(DSLA)$0.003681-6.85%
  • lympoLympo(LYM)$0.004392-4.43%
  • Falcon ProjectFalcon Project(FNT)$0.000366-2.23%
  • DYORDYOR(DYOR)$0.00002020.53%
  • TICOEX TokenTICOEX Token(TICO)$0.0013640.52%
  • MMS Cash TokenMMS Cash Token(MCASH)$1.000.00%
  • bitcoinBitcoin(BTC)$29,276.00-2.44%
  • ethereumEthereum(ETH)$1,996.31-0.83%
  • tetherTether(USDT)$1.00-0.16%
  • binancecoinBNB(BNB)$325.682.46%
  • usd-coinUSD Coin(USDC)$1.00-0.08%
  • rippleXRP(XRP)$0.411868-1.69%
  • Binance USDBinance USD(BUSD)$1.00-0.40%
  • cardanoCardano(ADA)$0.52-2.01%
  • SolanaSolana(SOL)$50.44-2.05%
  • polkadotPolkadot(DOT)$10.323.00%
  • dogecoinDogecoin(DOGE)$0.084475-0.91%
  • Lido Staked EtherLido Staked Ether(STETH)$1,956.29-0.39%
  • AvalancheAvalanche(AVAX)$30.23-2.32%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$29,298.00-2.30%
  • tronTRON(TRX)$0.0807954.82%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.0000120.33%
  • daiDai(DAI)$1.00-0.18%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • litecoinLitecoin(LTC)$70.24-1.16%
  • CronosCronos(CRO)$0.189873-1.79%
  • LADZLADZ(LADZ)$0.0686894.36%
  • leo-tokenLEO Token(LEO)$4.900.07%
  • matic-networkPolygon(MATIC)$0.66-0.35%
  • NEAR ProtocolNEAR Protocol(NEAR)$6.01-1.72%
  • HederaHedera(HBAR)$0.389473-3.44%
  • FTX TokenFTX Token(FTT)$29.81-2.28%
  • bitcoin-cashBitcoin Cash(BCH)$194.36-0.97%
  • RareRare(RARE)$0.0461220.00%
  • moneroMonero(XMR)$186.023.04%