- Over $116 billion added to the crypto market cap in the past 24 hours.
- ETH price breaks past $4,600 target.
- Analysts expect ETH price to surge to $10,000 ATH price.
The crypto community is thrilled to see a significant surge in the crypto market today. In detail, over $116 billion added to the crypto market cap in the past 24 hours. This incredibly high influx of funds and liquidity has made the crypto market ripe with potential for exponential price pumps over the coming days ahead, and most of the attention at the moment is on the pioneer altcoin asset, Ethereum (ETH).
Over $116 Billion Added to the Crypto Market Cap
Over $116,000,000,000 was added to the crypto market cap in the past 24 hours. This move acts as a herald to what can only be an explosive price gain for all crypto over the coming days ahead. In particular, expectations for the ongoing bull cycle’s altseason to arrive are now greater than ever. Another sign indicating this is how the pioneer altcoin Ethereum, has been outperforming BTC over the last few weeks.
As we can see from the post above, the massive flow of funds and liquidity into the crypto market is a highly bullish more. If we look closer at the image in the post, we see that most of the funds did not flow into BTC, and the pioneer crypto asset is only up by 0.66%. However, the price of Ethereum (ETH) is up by a whopping 8.17%, while all other altcoins have pumped greater than BTC as well, showing that altcoins are steadily outperforming BTC.
ETH Breaks $4,600 Price Target
According to CoinMarketCap analytics, the price of Ethereum (ETH) surged significantly from the $4,300 price range to break past the $4,500 price region and reclaim the $4,600 price target, showing how the asset is up by 8.44% in the last 24 hours. It currently boasts a total market cap of $564,170,965,818.41 and a 24-hour trading volume of $60,879,788,175.6, and is only a pump of 4.67% away from its previous ATH of $4,891.70.
Analysts are now coming together to welcome new ATH prices for ETH. The reputed silver-tongued analyst known for his accurate predictions, Doctor Profit , remarks how for a very long time, ETH was silent. Despite doubt, he held on to his ETH holdings and waited patiently for the breakout, which he is eager to see playing out now.
Similarly, another analyst notices how ETH is about to break out of its 4-year sideways range and predicts a $10,000 ATH target soon . He talks about how the last time ETH experienced a similar breakout pattern, the asset went on to pull a 20x pump over a year. Will we see something similar now, or something much greater? Some analysts expect the latter.
