The crypto industry is in turmoil as market indicators suggest an imminent bull run led by Ethereum! Which 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.
Ethereum is taking the dance to new heights!
According to renowned crypto analyst Michaël van de Poppe, the altcoin market capitalization, also known as TOTAL2, has completed its recent correction. It is now well positioned for a rise to a new historic 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 such as Arbitrum and Optimism. Other altcoins, including memecoins, are expected to follow the same upward trajectory as Ethereum in the near future.
Crypto: The market rises from its ashes!
The overall crypto market has seen a significant rise recently, with an increase of over 8% in total capitalization, reaching around $2.76 trillion. This upward momentum is largely attributed to the positive anticipation surrounding the vote by the United States House of Representatives on the law Project crypto dubbed Financial Innovation and Technology for the 21st Century Act (FIT21). But also, by the imminent decision of the SEC regarding Ethereum ETFs.
Furthermore, this enthusiasm for Ethereum and altcoins is also reinforced by the increasing probability of approval of Ethereum ETFs, which has increased to 75%, from 25% previously. This anticipation sent Ethereum's price up nearly 18% and sparked gains across the altcoin sector.
Remember that Ethereum has often been a major catalyst for the uptrend of altcoins. With a market capitalization of $352.50 billion, Ethereum represents over 17% of the total market capitalization, which includes over 20,000 crypto assets.
Ultimately, the altcoin market appears to be gearing up for a bull run that could redefine the digital financial landscape. Savvy investors will keep an eye on regulatory developments and large trader activity to navigate this promising time for crypto.
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