Lorenzo Stroe
Independent Analyst
- ETH/USD is currently trading at $320 after a strong breakout.
- Ethereum remains as the leader even though Bitcoin also had a breakout.
Ethereum was the first major cryptocurrency to have a significant breakout. The level to beat was $250 and bulls certainly managed to destroy it. The DeFi craze was in full force before Ethereum finally caught up to it. Many low market capitalization coins were experiencing massive bull rallies.
Ethereum could even beat Bitcoin in market capitalization soon
It’s not a surprise that Ethereum had the first breakout. Most altcoins and especially DeFi altcoins depend on it as they are ERC-20 tokens. ETH/USD is now one of the strongest crypto pairs and is leading the way.
There are many strong fundamentals helping Ethereum like the number of coins out of exchanges and major trust funds buying significant amounts of ETH. Additionally, Ethereum active addresses also has kept increasing during the last few months.
Now that Bitcoin is also bullish, Ethereum should actually benefit as well.
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