• Ethereum currently has its best capitalization since the bull season in 2020.
• The digital currency increases in value due to the drop in gas fees.
Crypto enthusiasts generally agree that Ethereum is not overvalued. Ethereum has increased by more than 30% in the last few days, and its capitalization is on the rise. Ether has gone through its seventh consecutive month with a good streak; with a 45% increased performance month of April.
This positive streak was a sign that unmade earnings were being saved for retail investors and hodlers.
Hovering above $3000, Ethereum is trending because funding has been negative today. The volume of the asset decreased within the exchanges while the value increased in negative financing.
Some series of events have helped the Ethereum rise, as the first bond exit of the asset towards BEI. This has helped Ether’s rise in dominance and steady rally in value. Things are slightly different with Bitcoin as investors have not taken it as a priority, as is happening with Ethereum.
Ethereum can maintain its uptrend for a long time
The uptrend of the asset may continue, as shown by its activity on the Blockchain. The digital currency has surpassed $3000, while mining fee earnings have hit a new low. This rise in mining did not have such a symbolic rebound since December 2020.
The Ethereum movement can be related to implementing MEV. Increased traffic and its movement towards BSC can also positively affect the asset.
The miner’s profits have fallen by 30%, which is very significant in the sustainability of the price. This ETH rally has become the largest against Bitcoin since the bull series in 2020. These price movements have allowed for new ATHs and are reached before beginning an alternative season with the main cryptocurrencies.
Increase in ETH value
With the current Ether price, investors are open to investments in the asset. If they get the ETH at the current price, new support can be reached with the right demand. This new level may go significantly above $3000, increasing its capitalization, demand, and recovering its price. ETH has continued to dominate the crypto market since 2020.
Crypto experts estimate that Ethereum could be sustained for a long time. Ether has gained the confidence of amateur investors, which leads to believe that its rise is not just a bubble. Although Bitcoin is still above Ethereum technology, this may change if the season continues against it.