• Press Releases
    • Submit a press release
    • Read All
  • Advertise
  • Contact us
Crypto.com Logo Crypto.com Logo
Bitcoinist.com
No Result
View All Result
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN
Bitcoinist.com
No Result
View All Result
Ethereum bull run
Nexo

Ethereum And The Undeniable Signs Of A Bull Market

Eduardo Próspero by Eduardo Próspero
1 year ago
in Ethereum, Altcoin Price
0

In the middle of an outstanding bull market for the whole crypto space, Ethereum stands out in a big way. And it’s easy to see why. On one hand, we have the rise of DeFi and the NFT craze. On the technical side, we have the EIP-1559 update coming in July. And on the corporate side, Visa settling transactions in USDC, the EIB’s €100M digital bond, and the release of CME Ethereum Futures.

Besides that, ETH’s price kept going up while BTC stumbled. That is unprecedented. It was a crypto rule that Altcoins followed Bitcoin wherever it went. Bitcoinist reported the phenomenon as it happened:

5 BTC + 300 Free Spins for new players & 15 BTC + 35.000 Free Spins every month, only at mBitcasino. Play Now!

Mira Christanto, a researcher at Messari, registered a negative correlation between Bitcoin and Ethereum in the daily chart. With a -4% and a +7%, respectively, Christanto highlighted that this is an unusual event and could be “indicating a start of a new phase”.

Ethereum price chart for 05/06/2021 - TradingView

ETH price chart on Bingbon | Source: ETH/USDT on TradingView.com

Action in the Ethereum ecosystem

Bitcoinist also reported that de two biggest players in de DeFi space recently surpassed the $1B in Total Value Locked. And Ethereum is supposed to surpass the $1B in TVL by itself in the near future. Even though that’s a drop of water to the sea that is the global financial system, it’s important to remember that the whole DeFi space has only existed for a couple of years. 

Related Reading | Eerie Nasdaq Fractal Predicts Bitcoin Is About to See Its Next Leg Higher

BitStarz Player Lands $2,459,124 Record Win! Could you be next big winner?
Get 110 USDT Futures Bonus for FREE!

On the other hand, when the EIP-1559 update is in place, the Ethereum Virtual Machine will burn a portion of each transaction’s fees. That will make ETH a disinflationary asset. Miners are already rallying against the update, which they feel will rob them of a piece of their earnings. The real question, though, is how will that affect the price? Only time will tell.

You know you are involved in a MAJOR bull market when you repeatedly catch yourself saying:
"I sold some way too early"
or
"I could have been a millionaire if only ____(fill in the blank)_____________________ $ETH pic.twitter.com/9P5fxx1XWc

— Peter Brandt (@PeterLBrandt) May 6, 2021

Institutional Acceptance 

One of the crypto space’s big stories from the last few months is how global finance embraced Bitcoin. Nevertheless, making less noise, Ethereum also gained ground in institutional acceptance. The credit card giant Visa will not only accept USDC for settling transactions, the company will also run its own Ethereum nodes. 

Just last week, the European Investment Bank announced the creation of a two-year Ethereum digital bond. In a timely manner, Bitcoinist reported:

Citing undisclosed sources familiar with the matter, notes will be registered on the Ethereum blockchain using smart contracts, and the sale itself will be managed by banking giants like Goldman Sachs, Banco Santander SA, and Societe Generale. The tokenized bonds could then theoretically be issued to buyers via an Ethereum wallet. 

Related Reading | Is SafeMoon Really… Safe? What Is It And Why It’s The Talk Of Crypto

That’s a huge sign of acceptance by respected global financial institutions. Back in February, we received another sign. The Chicago Mercantile Exchange or CME released ETH futures in their platform geared towards financial institutions and big players. Some analysts think that this is the moment that Ethereum’s unprecedented bull-run started. 

The product keeps gaining ground against the CME Bitcoin futures, as Bitcoinist reported:

During the first seven days of trading, ETH futures volume on CME was only $23 million. Recent data shows one-week volumes are now totaling $353 million – a new all-time high record that keeps getting broken again and again.

Figures provided by CryptoCompare, reveal that CME ETH futures represented 1.36% of their BTC equivalent to start, but since spiked as high as 9.36%.

In conclusion, we’re in the middle of “a MAJOR bull market,” as Peter Brandt said. And it’s Ethereum’s time to shine.

Featured Image by Adeolu Eletu on Unsplash - Charts by TradingView
ShareTweetShareShare

Sign Up for Our Newsletter!

For updates and exclusive offers enter your email.

I consent to my submitted data being collected and stored.
Eduardo Próspero

Eduardo Próspero

Eduardo Prospero is an author, a content writer, and a professional rapper. A Bitcoin maximalist in disguise. Working on a Bitcoin book. Beware of my Telegram impersonator!

Related Posts

USDTea

USDTea: A New Stablecoin Backed By Iced Tea Cans Rises Like The Phoenix

3 hours ago
GameStop Pushes Start On New Ethereum NFT Wallet

GameStop Pushes Start On New Ethereum NFT Wallet

16 hours ago
Balenciaga

Balenciaga To Accept Bitcoin And Ethereum Payments In The U.S.

20 hours ago
Phishing

Phishing Criminals Steal $70,000 Using Beeple’s Hacked Twitter Account

1 day ago
Crypto

Crypto Disaster: Ethereum Co-Founder Vitalik Buterin Claims He’s Not A Billionaire Anymore

2 days ago
Ethereum

Ethereum Layer-2 Scaling Solution Optimism Now Supported By Binance

3 days ago

Bitcoin news portal providing breaking news, guides, price analysis about decentralized digital money & blockchain technology.

Bitcoin

  • News
  • Price
  • Businesses
  • Acceptance
  • Technology
  • Investment
  • Regulation
  • Reviews

Altcoins

  • News
  • Price
  • Ethereum
  • Ripple
  • Litecoin
  • EOS
  • NAGA

Categories

  • Blockchain
  • Security
  • FinTech
  • Technology
  • Trending
  • Breaking News
  • Press Releases
  • How to

Pages

  • Contact us
  • Editorial Policy
  • Advertise
  • Crypto Prices from Nomics
© 2022 Bitcoinist.com. All Rights Reserved.
  • Bitcoin
    • News
    • Price
    • Businesses
    • Acceptance
    • Technology
    • Investment
    • Regulation
    • Reviews
    • All Bitcoin News
  • Altcoins
    • News
    • Price
    • Ethereum
    • Ripple
    • Litecoin
    • EOS
    • NAGA
    • All Altcoin News
  • Tech
    • Blockchain
    • Security
    • FinTech
  • Industry
    • Press releases
  • Price
    • Bitcoin Price
    • Ethereum Price
    • Litecoin Price
    • Binance Coin Price
    • Monero Price
    • MimbleWimbleCoin Price
  • How to
    • Buy gift cards/mobile Top Ups with Cryptos
    • What Is Bitcoin?
    • Best Bitcoin Wallet
    • Bitcoin vs Ethereum
    • Why Use Blockchain Technology?
    • Bitcoin Cash ABC vs. Bitcoin Cash SV
    • How to Buy Cryptocurrency
    • Bitcoin Mining
    • Best Bitcoin Brokers
    • Best Bitcoin Forex Brokers
    • How To Earn Btcoin
    • What is Facebook Libra?
    • Ripple and XRP: The Complete Guide
  • Play Games
  • BET&WIN

© 2021 Bitcoinist. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.