The leaders of the crypto ecosystem, BTC and ETH, reached the peak prices of the last months and entered a race, so which one is more effective in this race?
ETH, the pioneer of altcoins and one of the most valuable names in the crypto money market, has gained exciting momentum ahead of the upcoming Shanghai and Capella update. With the atmosphere created by this excitement in the crypto ecosystem, ETH, which found an ardent buyer in the crypto market, reached the level of 1942.59 and saw the peak value of the last 7 months. As of yesterday, ETH, which has a large share in the crypto market value seeing the peak of the last 10 months, confused the heads with it. Even with Bitcoin (BTC) seeing $ 29,150 in the past days, not signing this market value may be a sign of ETH’s leadership in this regard.
The crypto market cap, which did not increase so much even after BTC made its recent peak, tested the peak of ETH after this price move.
What about all these events, “could it be a sign that ETH currently has more of a say than BTC?
Ethereum (ETH) Hits 7-Month High
ETH, one of the pioneers of cryptocurrencies, reached the peak value of the last 7 months on April 5, with the wind behind it. ETH, which has risen to approximately 1943 dollars, has attracted attention with its recent independent pricing. ETH, which did not perform such a performance even when BTC reached the level of $ 29,150, created question marks in crypto investors.
ETH, which is currently higher than price openings on an annual, monthly and weekly basis, seems to have targeted 2032 and 2144 dollars for itself, especially before the Shanghai and Capella update. In case the expectations are not met, it is of great importance to maintain the levels of 1795 – 1760 dollars.
Bitcoin (BTC) Hits Top 10 Months
Testing the level of $ 29,177 on March 30, BTC reached its highest value since June 2022. BTC, which has gained an upward momentum from 15.500 levels, has achieved such a rise despite the Fud news from the market. For BTC, which is currently below the monthly and weekly price opening, the $ 30,000 levels create great expectations.
The $30,000 level has become one of the most important criteria in the battle of crypto leaders, not only technically but also psychologically. This level is now of greater importance for BTC, which lags behind ETH in terms of market impact.
The Name Leading the Crypto Market Cap: Ethereum!
According to data from CoinMarketCap, the crypto market value, which has been on the rise for a while, reached $ 1.209 trillion, reaching its highest value since June 2022. The crypto market capitalization, which generally continues on its way under the leadership of BTC, this time renewed its recent record without the impact of a sharp pricing movement of BTC.
Considering the Ethereum chart, we see that on April 5, ETH displayed its peak price for the last 7 months. Reaching $ 1917 on CoinMarketCap, ETH brought with it a new peak in crypto market capitalization. In the previous times of the crypto industry, BTC was the name that directly affected such data, this time ETH’s opportunity to make such an attack and offer a short-time record in the industry surprised investors.
BTC, which reached its highest value on March 30 after June 2022, saw $ 28,967 in CoinMarketCap data. After BTC saw this price, the crypto market value reached the highest value in a certain period of time, but in the current situation, the data coming in the lead of BTC’s lower prices and ETH’s record is a sign that ETH has prevailed.
ETH’s Star Shines in the Arena!
The activity in the ETH ecosystem, which will step into many new developments after the Shangai and Capella update, is increasing day by day. As of writing the news, it seems that 526,911 crypto validators have staked 18 million ETH. One of the biggest indicators of this situation was the rapid increase in the number of “Active Validators” day by day.
The increasing interest in the ETH ecosystem regarding the update seems to be reflected not only on that side, but also globally. The increase in Google searches for the word “Shangai”, as reviewed in Google Trends, has been an indicator of interest in ETH in recent days. ETH is one of the main criteria for the rise of altcoins. ETH, which crypto investors had high expectations after BTC settled in a certain price range, has managed to become a more researched crypto money than BTC in recent days.
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