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ether It hit a new record over the weekend after its first hit on Friday for the first time since 2021.
The price of the second-largest cryptocurrency rose to $4,954.81 on Sunday afternoon. It was $4,776.46 and was under 1% last.
meanwhile, Bitcoin At one point, it wiped out all profits from Friday’s rally, dropping at $110,779.01, the lowest level since July 10th. Finally, it fell nearly 2% to around $112,000. The flagship cryptocurrency hit a recent record of $124,496 on August 13th.
Ether (ETH) and Bitcoin (BTC)
On Friday, Crypto fired rockets in a wider market after Federal Reserve Chair Jerome Powell suggested future interest rate cuts and investors returned to risk-on mode. Ether spiked 15% and Bitcoin rose 4%.
Ether has been leading crypto markers for weeks thanks to regulatory tailwinds, not Bitcoin. This is because they are interested in stubcoins and buy in bulk by a new cohort of ether accumulators in companies. Saturday, Bitmine Immersion TechnologiesAccording to Crypto Data Provider Arkham, Ether Treasury Company, chaired by Tomley of Wall Street Bull, has purchased $45 million in ether.
This leadership change has helped us maintain the ETH, which has maintained a level of $4,000 this month after testing several resistance marks since 2021.
“Buyers will ultimately be bigger than sellers,” said Ben Kurland, CEO of Crypto Research Platform Dyor. “ETH ETFs are causing a stable inflow, and public companies are beginning to treat ETH as financial assets that can build interests for the yield.
“In addition, with nearly a third of the supply being trapped in staking, the scaling solution is mature and rate reductions are back to the table, lowering capital costs,” he added. “These forces have now gone from resistance levels to $4,000 on the basis of repricing the next chapter of ETH.”
