Crypto Markets Rally as Ethereum Nears All-Time High
The post Crypto Markets Rally as Ethereum Nears All-Time High appeared on BitcoinEthereumNews.com. As ETH approaches its previous ATH, SOL is today’s biggest gainer among the top-10 crypto assets. Crypto markets are rallying today, Aug. 13, with Ethereum (ETH) extending its very strong week, surging toward record levels last seen four years ago. The total crypto market capitalization stands at $4.2 trillion, up 2.5% on the day, setting a new all-time high, according to CoinGecko data. Meanwhile, Bitcoin (BTC) is trading at about $121,470 as of press time, up 1.4% in the last 24 hours, extending its weekly gains to 5.7%. BTC briefly topped $122,000 earlier in the week but has largely stayed range-bound. BTC 24-hour price chart. Source: CoinGecko ETH continues to outperform BTC in daily gains, rising 5.5% on the day and reaching above $4,700, a level last seen in 2021, and now only about 3.8% below its November 2021 all-time high. ETH has grown 24% in the past seven days, and is up over 55% in the last month. ETH 3-month market cap chart. Source: CoinGecko In under two weeks, ETH’s market capitalization has grown from around $407 billion to $567 billion, adding $160 billion, which is more than Solana’s entire market capitalization of $107 billion. New ETH Price Targets Amid that dynamic, global banking giant Standard Chartered updated its price target for ETH, raising it from $4,000 to $7,500 by the end of this year and to $25,000 by 2028, citing stronger industry participation and increased holdings of the token in recent months. Adding to the momentum, Tom Lee’s BitMine — the largest publicly traded ETH treasury with more than 1.2 million ETH on its balance sheet — plans to raise as much as $24.5 billion through common stock sales to expand its Ethereum holdings, a regulatory filing shows. Paul Howard, senior director at crypto market maker Wincent, told…
The post Crypto Markets Rally as Ethereum Nears All-Time High appeared on BitcoinEthereumNews.com.
As ETH approaches its previous ATH, SOL is today’s biggest gainer among the top-10 crypto assets. Crypto markets are rallying today, Aug. 13, with Ethereum (ETH) extending its very strong week, surging toward record levels last seen four years ago. The total crypto market capitalization stands at $4.2 trillion, up 2.5% on the day, setting a new all-time high, according to CoinGecko data. Meanwhile, Bitcoin (BTC) is trading at about $121,470 as of press time, up 1.4% in the last 24 hours, extending its weekly gains to 5.7%. BTC briefly topped $122,000 earlier in the week but has largely stayed range-bound. BTC 24-hour price chart. Source: CoinGecko ETH continues to outperform BTC in daily gains, rising 5.5% on the day and reaching above $4,700, a level last seen in 2021, and now only about 3.8% below its November 2021 all-time high. ETH has grown 24% in the past seven days, and is up over 55% in the last month. ETH 3-month market cap chart. Source: CoinGecko In under two weeks, ETH’s market capitalization has grown from around $407 billion to $567 billion, adding $160 billion, which is more than Solana’s entire market capitalization of $107 billion. New ETH Price Targets Amid that dynamic, global banking giant Standard Chartered updated its price target for ETH, raising it from $4,000 to $7,500 by the end of this year and to $25,000 by 2028, citing stronger industry participation and increased holdings of the token in recent months. Adding to the momentum, Tom Lee’s BitMine — the largest publicly traded ETH treasury with more than 1.2 million ETH on its balance sheet — plans to raise as much as $24.5 billion through common stock sales to expand its Ethereum holdings, a regulatory filing shows. Paul Howard, senior director at crypto market maker Wincent, told…
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