Ethereum Price On Fire!!
Ethereum price seems to have outperformed all the bears in recent times. The price initially struggled to sustain above $1000 very hard. And once the levels were successfully maintained, the rally intensified and smashed $4000 with minimum efforts.
On the other hand, the Total Value in ETH 2.0 is surging marking new highs every new day. The contract address just smashed the ATH of $18,182,122,628.99 at the press time. Therefore the ETH price rally towards $10000 appears to be pre-programmed as rightly said by a popular analyst Lark Davis.
#ethereum now 40% of the way to 10K
— Lark Davis (@TheCryptoLark) May 10, 2021
Moreover the market capitalization is fast approaching the $500 billion mark which has risen like a giant in the past couple of months. If the current uptrend is maintained then eventually Ethereum may even flip Bitcoin to become the most valued crypto.
Altcoins Now Follow Ethereum Rally!
However, Ethereum in recent times showcased a divergence from the BTC price rally and maintained an uptrend despite BTC dump. Moreover, the high caps like Chainlink and Cardano smashed all-time high recently. And as said by one of the analysts and managing partner at Moonrock Capital, Simon Dedic, high cap alts are slowly following Ethereum.
Seems like high caps are slowly but surely following $ETH.
Fun week ahead, see you tomorrow 🌙
— Simon Dedic (@scoinaldo) May 9, 2021
Collectively, Ethereum price rally is manifesting a strong tendency to smash the higher barriers and rally towards the set target at $10000. Moreover, the ETH price also appears to be poised to flip the bitcoin price rally shortly.