In the past week, Ethereum has been one step closer to the $ 2,900 level with the new month, with an average daily growth rate of 5%. At the time of writing, the market is trading at $ 2,856, with a market volume of $ 331 billion. Also, Ethereum trading volume comes with spot purchases since mid-April. Therefore, analysts reported that Ethereum is showing bullish signs and higher ATHs may be seen against the dollar recently. At the same time, many crypto investors report that the $ 10,000 peak for ETH is not a difficult target. In this post today, we will examine 10 main reasons why Ethereum is making a succession of ATHs on this day, which could move it to $ 10,000.
10 Key Reasons That Could Move ETH to $ 10,000
There is an average daily circulation of $ 18 billion on the Ethereum network. Ethereum, which surpasses its competitors with this transaction volume, shows ATH ‘as a concrete data with the increasing demand.
The Ethereum network, which is examined on a monthly basis, has doubled Bitcoin as of today.
Ethereum daily active addresses are rising periodically. More than 625 thousand new ATH has been built recently.
With the explosion of the Ethereum DeFi world, it started to be in demand at the corporate level. Most of the total $ 65 billion locked in DeFi pools belongs to ETH.
The monthly Ethereum-based DEX volume has exceeded $ 60 billion, up 60 times since last year.
Ethereum's strong liquid structure provides synthetic resources to different cryptocurrencies, including Bitcoin. Currently, the supply of synthetic Bitcoin on the Ethereum blockchain has exceeded $ 200,000.
Since Ethereum is a powerful liquidity provider, other cryptocurrencies are represented on the ETH block chain. Bitcoin's synthetic supply on the Ethereum blockchain has exceeded $ 200,000.
NFTs are growing rapidly and Ethereum has generated new ATHs and recently more than $ 600 million in revenue with these sales.
The Ethereum-based Polygon network currently has a daily transaction volume of $ 1 million. It also acquired some of the largest DeFi projects, such as Aave.
The Ethereum blockchain network currently has more than $ 50 billion in stablecoin supply.
With the EIP-1559 upgrade, it is expected that the prices on the chain will decrease with the gas fees that will decrease.
Finally, the Ethereum network has major upgrades and updates to be made in the specified periods. While providing a more usable environment for investors with the planned improvements. With the confidence gained, prices can be expected to move in a positive direction.