Four Reason’s Ethereum Is on the rise By cioreviewindia Team

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Ethereum is currently trading at an all-time high leaving many of you wondering how much higher it can go? Well, Ethereum can go much higher than its current level but the speculators, investors, and traders need to target certain marks for Ethereum to get there. According to Business Insider , crypto price tracker, Ethereum’s capitalisation…

Ethereum is currently trading at an all-time high leaving many of you wondering how much higher it can go? Well, Ethereum can go much higher than its current level but the speculators, investors, and traders need to target certain marks for Ethereum to get there.
According to Business Insider , crypto price tracker, Ethereum’s capitalisation has risen to 435 billion dollars with trading volumes going as high as 52%.The rise of Ethereum began near the end of last year the same as Bitcoin’s rally but its run began in January and one of the obvious reasons is based on the rise of bitcoin.
Ethereum and Bitcoin try to follow each other on the value table but Bitcoin is leading the way due to its 200% increase which has seen it top the chart in the value of cryptocurrency.With the rise of bitcoin, Ethereum has also begun to rise and there are multiple reasons for that which we would consider here
Bitcoin Rally hit an all-time high
The value of bitcoin began going up last year as the pandemic reduced the stocks of many businesses.At the start of the pandemic lockdown, many industries and supply chains started shutting down.This move hurt almost every industry leaving many people with no option than to pick interest in cryptocurrency.

Many started reading reviews on Bitcoin Formula .
The number of exchanges worldwide showed high growth in trading volumes and while the most popular crypto started gaining, the one beneath it also began noticing some gains.

With the sudden increase in the price of bitcoin, we can say its rally has matured due to its market capitalization and price.
These factors have led people to start investing in the next crypto coin which is affordable and that’s Ethereum.
Ethereum’s gas prices are going down
The price of gas is one of the biggest challenges Ethereum network users face.

The cost of transactions has been on an increase since the turn of the year forcing a rise in the demand for Ethereum coins.

The price of gas to make a transaction grew higher last year but since the end of the Berlin Hard Fork, the price has fallen to a low level making the cost of Ethereum transaction attractive to users.
If the price drop continues, it will attract more users to this technology especially users who have been running away from high prices.
Acceptance from more institutions
The rally for cryptocurrencies in 2020 has led to more institutions joining the investor fold of crypto users.These institutions are big firms with funds to make the investment worth millions which can move the market at a faster pace than other investors.You would have heard of billionaires and celebrities who endorse cryptocurrency and talk about it openly.
This has led more institutional investors to become more involved with Ethereum and the likes.The more investors get interested in this currency, the higher the value goes due to its trading volume.
Ethereum’s gain in market shares
Ethereum has been gaining value in the market thanks to the high cost of withdrawal gas.With the high cost of bitcoin, it has been losing market share for over a year.Since its current drop, Ethereum and other coins have been gaining value.The rise of Ethereum value has been due to certain events such as EIPs introduction and the multiple hard forks which have doubled ETHs market share to 15%.
Conclusion
When it comes to making investments, people want to invest in areas where they’ll be assured of the most gains.The best place to invest right now will either be Bitcoin or Ethereum as you will be assured of having the most gains due to the steady rise in value..

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