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Crypto: Ethereum initiates a historic rally for Altcoins!

Tue 21 May 2024 ▪ 3 min of reading ▪ by Eddy S.
Regulation Crypto

The crypto industry is buzzing as market indicators suggest an imminent bull run led by Ethereum! This could propel the market capitalization of altcoins to new all-time highs. This optimism is fueled by several key factors, including regulatory developments and on-chain activity from major market players.

Crypto Ethereum Altcoins

Ethereum leads the way to new highs!

According to renowned crypto analyst Michaël van de Poppe, the market capitalization of altcoins, also known as TOTAL2, has completed its recent correction. It is now well-positioned for a rise to a new all-time high. Van de Poppe predicts that the price of Ethereum could reach its all-time high in the next two to four months.

Investors are therefore encouraged to closely monitor the Ethereum ecosystem, including layer-two projects like Arbitrum and Optimism. Other altcoins, including memecoins, are expected to follow the same bullish trajectory as Ethereum in the near future.

Crypto: The market rises from its ashes!

The overall crypto market has recently seen a significant rise, with a more than 8% increase in total capitalization, reaching around $2.76 trillion. This bullish momentum is largely attributed to the positive anticipation surrounding the vote in the United States House of Representatives on the crypto bill dubbed the Financial Innovation and Technology for the 21st Century Act (FIT21). Additionally, the imminent decision of the SEC regarding Ethereum ETFs has also played a role.

Moreover, this enthusiasm for Ethereum and altcoins is also reinforced by the increasing likelihood of an approval of Ethereum ETFs, which has risen to 75%, up from 25% previously. This anticipation has driven up the price of Ethereum by almost 18% and sparked gains across the altcoin sector.

It should be noted that Ethereum has often been a major catalyst for the bullish trend of altcoins. With a market capitalization of $352.50 billion, Ethereum represents more than 17% of the total market capitalization, which includes over 20,000 crypto assets.

Finally, the altcoin market seems poised for a bullish run that could redefine the digital financial landscape. Savvy investors will keep an eye on regulatory developments and the activity of major traders to navigate this promising period for crypto.

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Eddy S. avatar
Eddy S.

Le monde évolue et l'adaptation est la meilleure arme pour survivre dans cet univers ondoyant. Community manager crypto à la base, je m'intéresse à tout ce qui touche de près ou de loin à la blockchain et ses dérivés. Dans l'optique de partager mon expérience et de faire connaître un domaine qui me passionne, rien de mieux que de rédiger des articles informatifs et décontractés à la fois.

DISCLAIMER

The views, thoughts, and opinions expressed in this article belong solely to the author, and should not be taken as investment advice. Do your own research before taking any investment decisions.