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Breaking News: Coinbase Confirms DOJ Investigation Following Major Security Incident

ETH Breaches $1,500 Level As Ethereum Adds Over $20 Billion To Its Market Cap

Christian Encila
Christian Encila
2 years ago
3 mins read
ETH

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Ethereum (ETH), regarded by the crypto community as the “king of altcoins,” is finally being talked about in a positive way after being the recipient of negative criticisms as it failed to capitalize on its loudly-hyped “merge” update.

After all, following the bullish momentum that propelled the overall valuation of the crypto market to over $1 trillion once again on Thursday, the digital currency is all-green on its price charts.

According to data from Coingecko, as of this writing, ETH is changing hands at $1,546. While it only managed to climb by 1% over the last 24 hours, the asset is sitting on a 20.4% increase for the past week.

In that department, the number one altcoin managed to outperform Bitcoin – something that is rarely seen since the two assets were pitted by the crypto space against each other.

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Ethereum Market Cap Swells Anew

Not only did Ethereum manage to breach the crucial $1,500 marker that proved to be challenging for the crypto asset over the last few weeks. Before arriving at its current spot trading price, the altcoin king settled for $1,347.

With its impressive price pump, its market capitalization ballooned to $186.395 billion. ETH ended up being richer by over $20 billion as its overall valuation on October 25 was only a little over $164 billion.

If the asset continues this momentum, it might enter the month of November with prices that might be closer to its all-time high (ATH).

It can be recalled that on November 10, 2021, Ethereum hit a milestone changing hands price of $4,878. ETH, however, already lost 68.3% of that value as it struggled to gain enough steam for a bullish run despite undergoing a major network development this year.

It’s interesting to see how the Bitcoin rival will end this month of October which is said to be a friendly one for all crypto assets.

Ethereum Surpasses Predicted November Price

The ETH community has always been very vocal about their price prediction for the crypto. In fact, in the past, they have predicted that Ethereum will trade at $1,488 by the end of next month.

But the digital asset has managed to surpass that forecast before October ends. This would mean that if, over the next few weeks, ETH manages to sustain its current price or move to even higher levels, it will experience price correction before exiting November 2022.

The asset’s community will be more than happy to be proven wrong with their prediction as long as they witness a continued bullish trend for Ethereum.

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ETH total market cap at $189 billion on the daily chart | Featured image from Nairametrics, Chart: TradingView.com

Disclaimer: The analysis is based on the author's personal knowledge and should not be construed as investment advice.

 

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Christian Encila
Christian Encila

Christian Encila

They say journalists never truly clock out. But for Christian, that's not just a metaphor, it's a lifestyle. By day, he navigates the ever-shifting tides of the cryptocurrency market, wielding words like a seasoned editor and crafting articles that decipher the jargon for the masses. When the PC goes on hibernate mode, however, his pursuits take a more mechanical (and sometimes philosophical) turn.

Read more

Christian's journey with the written word began long before the age of Bitcoin. In the hallowed halls of academia, he honed his craft as a feature writer for his college paper. This early love for storytelling paved the way for a successful stint as an editor at a data engineering firm, where his first-month essay win funded a months-long supply of doggie and kitty treats – a testament to his dedication to his furry companions (more on that later).

Christian then roamed the world of journalism, working at newspapers in Canada and even South Korea. He finally settled down at a local news giant in his hometown in the Philippines for a decade, becoming a total news junkie. But then, something new caught his eye: cryptocurrency. It was like a treasure hunt mixed with storytelling - right up his alley!

So, he landed a killer gig at NewsBTC, where he's one of the go-to guys for all things crypto. He breaks down this confusing stuff into bite-sized pieces, making it easy for anyone to understand (he salutes his management team for teaching him this skill).

Think Christian's all work and no play? Not a chance! When he's not at his computer, you'll find him indulging his passion for motorbikes. A true gearhead, Christian loves tinkering with his bike and savoring the joy of the open road on his 320-cc Yamaha R3. Once a speed demon who hit 120mph (a feat he vowed never to repeat), he now prefers leisurely rides along the coast, enjoying the wind in his thinning hair.

Speaking of chill, Christian's got a crew of furry friends waiting for him at home. Two cats and a dog. He swears cats are way smarter than dogs (sorry, Grizzly), but he adores them all anyway. Apparently, watching his pets just chillin’ helps him analyze and write meticulously formatted articles even better.

Here's the thing about this guy: He works a lot, but he keeps himself fueled by enough coffee to make it through the day - and some seriously delicious (Filipino) food. He says a delectable meal is the secret ingredient to a killer article. And after a long day of crypto crusading, he unwinds with some rum (mixed with milk) while watching slapstick movies.

Looking ahead, Christian sees a bright future with NewsBTC. He says he sees himself privileged to be part of an awesome organization, sharing his expertise and passion with a community he values, and fellow editors - and bosses - he deeply respects.

So, the next time you tread into the world of cryptocurrency, remember the man behind the words – the crypto crusader, the grease monkey, and the feline philosopher, all rolled into one.

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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Reason to trust

Strict editorial policy that focuses on accuracy, relevance, and impartiality
Created by industry experts and meticulously reviewed
The highest standards in reporting and publishing
How Our News is Made

Strict editorial policy that focuses on accuracy, relevance, and impartiality

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Disclaimer: The information found on NewsBTC is for educational purposes only. It does not represent the opinions of NewsBTC on whether to buy, sell or hold any investments and naturally investing carries risks. You are advised to conduct your own research before making any investment decisions. Use information provided on this website entirely at your own risk.

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