Ethereum surpassed $2000… Altcoin bull market is here

[Source: Coin360]
[Source: Coin360]

[Digital Today Reporter Hyun-Woo Choo] On the 3rd, in the virtual asset (cryptocurrency) market, the top 10 stocks with market capitalization are leading the overall rise in the market. In particular, altcoins are remarkable, centering on Ethereum.

Based on Coin360 at 9:30 a.m. on the 3rd, Bitcoin (BTC) rose 1.28% from the day before to $59273, reaching the bottom of $60,000. On the domestic virtual asset exchange Upbit, it is 74.2 million won, up 0.56% from the previous day.

Bitcoin rarely crosses the $60,000 resistance line. Instead, Ethereum took over the upside momentum. Ethereum (ETH) is trading at $2129, soaring more than 9% compared to the previous day. For the first time in Ethereum history, it exceeded $2,000.

Ethereum change is interpreted as a technological uptrend. Cryptoquant CEO Ki-young Ju explained through his Twitter, “Recently, $400,000 of Ethereum was traded on Coinbase. I guess the institution has purchased Ethereum.” It is an analysis that the movement of whales and institutional investment is affecting the price.

In addition to Ethereum, Polkadot, Cardano, Ripple, and Litecoin also recorded an increase of around 10%. Polkadot (DOT) rose 11.74% from the day before to $41.02, Ripple (XRP) rose by 7.21% to 61 cents, and Litecoin (LTC) also rose 6.22% to $213. Cardano (ADA) rose 1.26% to $1.19.

Author/ Translator: Jamie Kim
Bio: Jamie Kim is a technology journalist. Raised in Hong Kong and always vocal at heart. She aims to share her expertise with the readers at Kim is a Bitcoin maximalist who believes with unwavering conviction that Bitcoin is the only cryptocurrency – in fact, currency – worth caring about.