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
Analysis

Ethereum Set To Explode According To Market Dominance, Crypto Analyst

by Miki 08/11/2021
by Miki 08/11/2021 0 comment

Crypto Analyst Nicholas Merten recently said in a video analysis session on YouTube that Ethereum’s price is poised to explode. Merten pointed out that price analysis really isn’t the reason that the number 2 cryptocurrency is set to explode, but what the market dominance shows that actually shows this. This shows through when the cryptocurrency market dominance is measured.

Merten believes that current market trends are very similar to what was done in the market back in 2017. Going back to when the last bull market had started in 2017. Before fizzling out and turning into a full-blown bear market by the time the middle of the year 2018 rolled around. The current trends of higher lows that have been seen so far in the market continue to mirror the cycle of 2015 when Ethereum had started to show momentum in the market.

Related Reading | How Much Is Your Love Worth? Polish Influencer Sells “Love” As NFT

This momentum had continued on for Ethereum straight through 2016 and all the way into 2017, leading up to the bull cycle that had begun in November 2017. Ethereum has so far maintained momentum despite a variety of competition in the market. It continues to hold market dominance around the 19% to 20% range.

“This showcases that this is a critical metric we need to watch for because we’re testing around that 20% range. One-fifth of the market share going towards Ethereum,” Merten said.

The Key To Another Shoot-Up

Market dominance continues to be a good way to gauge how the price of a coin is going to do in the crypto market. Number 1 cryptocurrency Bitcoin, continues to maintain the majority market share, and as such, continues to be the most valuable coin in the market.

But with Ethereum picking up more market share, there is no doubt that ETH is becoming more of a valuable asset. At one point, Etheruem had garnered as much as 32% market share. Showing how fast the cryptocurrency is gaining value ahead of other coins in the market.

Related Reading | Why Another Wave Up For Altcoins Is Probable According To BTC Dominance

Also relevant is the fact that Ethereum is much younger crypto than Bitcoin. Recently celebrating its fifth year anniversary, Ethereum has continued outperformed number 1 crypto Bitcoin. Despite the latter being twice as old in the market.

Continuing further, Merten said, “This showcases that this is a really critical metric we need to watch for. And that is a huge psychological level because once we broke through that range, we climbed all the way up here to 32% market dominance. An over 50% increase of previous ownership of market share.”

Ethereum Breaking From Bitcoin

Ethereum continues to see uptrends in the price following the close of last weekend. The coin so far seems to be dissociating from the price of bitcoin and charting its own course upwards. Continuing to rally while the price of bitcoin experienced dips following the latest rally.

Ethereum price chart from TradingView.com

ETH price continued to rally while BTC slowed down entering the new week | Source: ETHUSD on TradingView.com

As ETH continues to gain more market dominance, the asset is more likely to rally at its own pace as opposed to following the market trends of bitcoin. This would put Ethereum on love ground with the pioneer cryptocurrency if the value of ETH stops being reliant on the value of BTC.

The price of ETH is currently up 7.45% in the last 24 hours, to be trading at $2,678.06 according to CoinDesk.

Featured image from Forex Academy, chart from TradingView.com

Source link

Views: 2
AnalystCryptoDominanceEthereumExplodeMarketSet
Share
0
FacebookTwitterPinterestEmail
previous post
Over 4,000 ETH burned hours after EIP-1559 upgrade
next post
Ethereum’s Perpetual Swaps Open Interest Tops $8B for the First Time Since May

Related Posts

Bitcoin is Struggling, But It’s Too Early to...

12/29/2021

Sushi Up 17% Amid DeFi 2.0 Rescue Rumors

12/29/2021

Ethereum Recovery Could Soon Fade If ETH Fails...

12/28/2021

Charles Hoskinson Shares Cardano Plans for 2022

12/28/2021

Bitcoin Prints Bullish Pattern, Why BTC Could Surge...

12/27/2021

Ethereum Breaks Key Hurdle, Why There Could Be...

12/26/2021

Could Bitcoin Benefit From A Santa Claus Rally?

12/25/2021

$8.2M Lost as Visor Finance Suffers Latest DeFi...

12/25/2021

Bitcoin Gains Momentum, Why Rally Isn’t Over Yet

12/24/2021

2021 in Review: the Top 10 Crypto Moments...

12/24/2021

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

  • Substack Plans to Start Accepting Bitcoin Payment for Digital Subscriptions

  • Cardano: Identifying the ideal long entry for traders

  • Why Practicing Proper Crypto Security Is Vital

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)$28,776.00-5.73%
  • ethereumEthereum(ETH)$1,919.21-8.49%
  • tetherTether(USDT)$1.00-0.21%
  • usd-coinUSD Coin(USDC)$1.00-0.10%
  • binancecoinBNB(BNB)$288.27-6.18%
  • rippleXRP(XRP)$0.407009-7.26%
  • Binance USDBinance USD(BUSD)$1.00-0.29%
  • cardanoCardano(ADA)$0.51-12.69%
  • SolanaSolana(SOL)$49.84-13.21%
  • dogecoinDogecoin(DOGE)$0.083844-7.33%
  • polkadotPolkadot(DOT)$9.56-13.61%
  • wrapped-bitcoinWrapped Bitcoin(WBTC)$28,788.00-5.78%
  • AvalancheAvalanche(AVAX)$29.80-13.71%
  • Lido Staked EtherLido Staked Ether(STETH)$1,886.99-8.70%
  • tronTRON(TRX)$0.070938-2.15%
  • VectoriumVectorium(VECT)$425.81-3.49%
  • Shiba InuShiba Inu(SHIB)$0.000012-8.29%
  • daiDai(DAI)$1.00-0.11%
  • Power CashPower Cash(PRCH)$0.017570881.24%
  • AlexAlex(ALEX)$0.068435-0.04%
  • LADZLADZ(LADZ)$0.0686894.36%
  • litecoinLitecoin(LTC)$66.48-8.92%
  • CronosCronos(CRO)$0.185143-8.76%
  • leo-tokenLEO Token(LEO)$4.91-0.93%
  • matic-networkPolygon(MATIC)$0.63-14.06%
  • NEAR ProtocolNEAR Protocol(NEAR)$5.96-10.92%
  • HederaHedera(HBAR)$0.389473-3.44%
  • FTX TokenFTX Token(FTT)$29.72-7.46%
  • RareRare(RARE)$0.0461220.00%
  • bitcoin-cashBitcoin Cash(BCH)$189.58-8.32%
  • stellarStellar(XLM)$0.128890-9.36%