Ether, the second-largest cryptocurrency by market capitalization, is approaching the $4,000 level for the first time since December 2021. It is currently trading at around $3,950. The cryptocurrency has continued to rise in recent months, alongside Bitcoin, which hit an all-time high on March 5th. Over the past 30 days, Ether has outperformed Bitcoin, gaining 67%, while Bitcoin is up 57%, and the CoinDesk 20 index (a measure of the Bitcoin index) is up. The broader crypto market rose 53%. Kenny Hahn, chief investment officer at SwissOne Capital, said ether is rallying in line with Bitcoin's recent success and ahead of the rise in altcoins. “There is nothing stopping ETH from reaching the $4,000 level other than psychological resistance,” Hahn said in an interview. “We think that's likely to happen within the next 24 hours, as long as the U.S. labor data is released as expected,” Hahn said. The United States is scheduled to release its non-farm payrolls report for February at 13:30 UTC.
If Bitcoin matched the gold allocation in investors' portfolios, its market capitalization would rise to $3.3 trillion, meaning the price would more than double, but the risks of cryptocurrencies and That probably won't happen due to increased volatility, JPMorgan (JPM) said. Said in research report. Gold is the best comparison for cryptocurrencies, the report said, given that investors perceive Bitcoin as a digital version of metals. “Most investors consider risk and volatility when allocating across asset classes, and considering Bitcoin's volatility is approximately 3.7 times that of gold, It would be unrealistic to expect it to match gold in notional value in a portfolio,” the analysts led. Written by Nikolaos Panigirtzoglou.
optimism foundation Said that's on friday Private token sale has started Approximately 19.5 million OP tokens, worth approximately $90 million at current prices, were transferred to an undisclosed buyer. The foundation is one of the maintainers and developers of the Optimism Network, the blockchain that executes and settles transactions on Ethereum. The sold tokens are subject to a two-year lockup. However, purchasers can delegate their tokens to an unrelated third party for participation in governance decisions, gaining the same benefits as unentitled holders.
