#Ethereum price, which is the largest altcoin in terms of market volume, has exceeded the important level of $ 3,000 today.
Since the start of a rally, many prominent names and analysts have stated that Ethereum's initial target is $ 3,000. Although Ethereum (ETH), the second largest cryptocurrency in terms of market value, moved slowly, the expected target with firm steps came today.
🚀Ethereum Now $ 3,000
It is seen that Ethereum, which was $ 3,046 at the time of writing the article, rose to $ 3,060. In fact, when looking at the eTH chart, it is stated that there is a healthy rise and the foundations of this rise are solid according to analysts.
In addition, with this increase, Ethereum surpassed institutions such as The #Walt #Disney #Company and #Bank of #America in terms of market value, and we can state that the market value of ETH is $ 352.6 billion as of the time of writing.
This rise, although it is not possible at the moment I Etherea 's Bitcoin ' s (BTC) can be passed and their claims to be settled in the first place ranking was the reason to come to the agenda again.
🚨Why Did Ethereum Rise?
According to the statements made, there are actually multiple factors behind the rise of Ethereum price . First of all, the interest of institutional investors is increasing and thus there is an increase in on-chain activities. For example; Earlier this week, the European Investment Bank announced it will issue a two-year digital bond worth $ 121 million on the ETH blockchain , in collaboration with banking institutions such as #Goldman #Sachs .
In addition, one of the biggest factors of this increase is the ETH 2.0 update and the developments related to this update. The #London #hard #fork , which is expected to take place in July, is considered a very important development for the system.
In addition to these, the increase in Ethereum transaction fees causes great reactions from time to time. However, ETH transaction fees have now fallen, and therefore users' interest in ETH has also increased.