Ethereum (ETH) reigns over the cryptomarkt again today. After a new large rise, the price was over $ 4,500 for the first time in almost four years. The record now really beckons on the horizon and the entire altcoinmarkt knows how to bear fruit. At the same time, Bitcoin (BTC) continues to struggle to break the $ 120,000.
Ethereum pops up after CPI figures
The cryptomarkt today had an excellent day. And that all started with the publication of the new consumer price index from the United States.
This afternoon at 2:30 PM Our time was announced the inflation figures for the month of June. The prices of a basket of goods and services have risen by 2.7 percent on an annual basis, while a plus of 2.8 percent was counted.
That’s good news. It gives the central bank in the country extra reason to lower interest rates at the next meeting in September. Earlier this month, the policy makers were also pushed towards that choice when the job figures disappointed.
The market has been waiting for new interest rates all year round. Because with lower interest rates, more money usually flows to risky investments. It’s not for nothing that the rates have risen so fast after the new figures.
Ethereum in particular is on steam, as has been the case for months. At 2:30 pm the largest Altcoin could still be picked up for less than $ 4,300, but now the price is at $ 4,500.
Then we are talking about an increase of almost 5 percent. Moreover, since December 3, 2021, no more has been paid for Ether anymore. The all-time high of almost $ 4,900 is now really within reach. And that while a few months ago you were declared crazy if you still believed in this.
Ethereum has now convincingly broken out on the monthly graph, and it now seems only a matter of time before the course history starts to write. With a decrease, the level could in any case offer support around 4,000 – $ 4,200.
Bitcoin has risen slightly less. The price was shot up by slightly less than 1.5 percent, from $ 118,400 to $ 120,000. For the time being it is not yet possible to break this level.
Ethereum is therefore gaining ground opposite Bitcoin. And the Bitcoin dominance (Bitcoin’s market share) has fallen further today. It has now even dived under an important support, so there is a good chance that it will fall even further.
Solana, Cardano and Chainlink are rising even faster
Solana (SOL) and Cardano (ADA) have risen even faster than Ethereum. ETH is 4.56 percent higher than 24 hours ago, SOL records a plus of 6.36 percent and ADA of 6.88 percent.
Other large altcoins cannot match this, but do better than Bitcoin. Ripple (XRP) has risen 2.02 percent, dogecoin (doge) by 2.14 percent and sui (sui) by 4.53 percent. Chainlink (link) is one of the largest risers with a win of 7.97 percent.
Source: https://newsbit.nl/ethereum-vlamt-voorbij-4-500-xrp-solana-en-andere-altcoins-profiteren/
