Sat. Apr 20th, 2024

Just about a week after BTC surpassed the $50,000 mark, ETH briefly rose to over $3,000 on Tuesday—a level not seen since 2022. Much like with BTC, the driving forces behind ETH’s price increase are solid fundamental data:

There is a steadily rising demand from both retail and institutional investors, coupled with a broader economic recovery and a clear regulatory framework in Europe coming with MiCA. Moreover, we are witnessing a similar discussion around the ETH spot ETF as previously seen with the BTC ETF. The macroeconomic outlook is quite promising, and the current crypto prices reflect the overall market outlook for our industry.

It’s the usual pattern of the last few years, where developments and price movements generally start with Bitcoin as the mother of cryptocurrencies, followed by ETH and other heavyweights.

By BNA

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