They see ETH rollin’: Why did Ether price reach $3.5K, and what’s next?

[Cz Rock]

The next few months promise to be exhilarating and decisive for Ether (ETH), as its recent all-time highs above $3,500 put an even bigger spotlight on the cryptocurrency and its smart contract blockchain, Ethereum.

As the cryptocurrency markets continue to grow five months into 2021, both the preeminent Bitcoin (BTC) and a host of other blockchain projects and tokens have soared in value, chief among them being Ether. The second-biggest cryptocurrency by market capitalization has enjoyed a buoyant fortnight that has seen it rise to new heights.

Indeed, ETH went on a late-April surge, backed by several key factors that have led to a rapid price appreciation across cryptocurrency markets. The booming decentralized finance sector coupled with the burgeoning nonfungible token, or NFT, space have been attributed as major reasons for ETH’s price boom, as these technologies are mostly based on the Ethereum blockchain. However, the importance of the recently implemented Berlin upgrade and bullish ETH options traders has helped push the price of the network’s token even higher.

The booming price of ETH has also led to renewed talk of a fabled ETH–BTC “flippening,” which would see Ether overtake Bitcoin as the most valuable cryptocurrency by market capitalization. While that is still a long way off, as Ether's $411-billion market cap is worth just 39% of Bitcoin’s $1.06-trillion market cap, ETH is increasingly catching up.

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[Fenix]

Ethereum's market cap is indeed growing and is now at 17 percent, while Bitcoin's market cap has been steadily falling and is now at 45 percent. Although the time for overtaking bitcoin ethereum in terms of capitalization is still far away, the ethereum network continues to update, and bitcoin has been practically at the same level for a long time without any real development prospects. Bitcoin's capitalization is still growing largely due to its former popularity and the expectations of many of its steady price growth. At the same time, the high current price of bitcoin is already exerting an inhibiting role for its further price growth, and many investors no longer dare to invest their money in such an expensive bitcoin against the background of its possible further fall.
Time will tell where this current situation will lead, but ethereum is in a better position here.

[Senin]

Ethereum is now showing incredible growth across the board. Its price reached $ 4340, and the capitalization was $ 501 million, which led to the dominance of this coin in the market at 19.6 percent. Since it is predicted that the ethereum price will continue to rise to $ 10,000 by the end of summer, and more than $ 25,000 by the end of the year, if the updates in July and October of this coin are successful, then in the long term it is quite possible that it could surpass Bitcoin in terms of capitalization. It would be fun to see that, especially in terms of how the ERC-20 tokens will behave. It should also be a good boom for them.