- Ethereum price exceeds $2k for the first time in a year.
- Bitcoin has seen a 10% increase in the last seven days, trading at $30,838.
- Solana has emerged as the best top 10 cryptos with over 23% growth.
This week the price of Ethereum (ETH) crossed $2k for the first time in almost a year. Expert crypto traders believe that the altcoin era has begun, so investors have many opportunities to make significant returns, if they proceed with caution.
According to analysts, liquidity will flow from Bitcoin (BTC) to Ethereum in a bull market, then altcoins, and finally shitcoins before reversing itself.
A German crypto influencer on Twitter argued that the current period is more like 2019 than a real bull market. He said that investors should expect the coins to move more slowly, with sudden price jumps, violent crashes, and unpredictable cycle endings.
According to data from market tracking website, CoinMarketCap, the global crypto market has seen an inflow of more than $55 billion in the past 24 hours, putting the market share at nearly $1.3 trillion. The new milestone that the most popular crypto, Bitcoin, has reached has greatly contributed to the new figure.
BTC is trading at $30,838, with a 10% increase in the last seven days and a market cap of over half a trillion dollars. The $30k price point represents the highest point this year and since June 2022, when the Terraform Lab projects exploded.
Similarly, ETH is trading at $2,118 after gaining 15% last week. Among the top ten cryptos with the largest market cap, Solana (SOL) is the best coin. SOL has grown by more than 23% in the past seven days as crypto traders bought and sold nearly $1 billion worth of tokens.
The post Crypto Market Sees $55B Inflow; Altcoin Time Is Here, Says Analyst who appeared first on Coin Edition.
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