The second-largest cryptocurrency, Ethereum, gained momentum recently after passing the $ 2,100 psychological price tag. ETH fell 3.58% over the past 24 hours and reached $ 2,035 during intraday trading.

Ethereum has been trying to renew its rising momentum after a recent market crash, the price of which rose from an all-time high (ATH) of $ 4,350.

ETH holders remain convinced that the uptrend is about to begin as they have withdrawn their holdings in cryptocurrencies as forces, as Santiment admits. Encryption analytics company explained:

“Ethereum holders continued to make their history by lowering the percentage of ETH held on the stock exchange to its lowest share since November 2018. A drop below 18% for the first time in 31 months will reduce the risk of future large sales.”

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Ownership is usually upward as investors pull their shares cryptocurrencies and store them in digital wallets or cold stores for future reference.

The move to the Ethereum outlet could trigger a $ 40 billion input sector

By For JP Morgan analysts, the transition from current job certification (POW) a consensus mechanism to acquire a stake in the Ethereum network (POS) could launch a $ 40 billion investment industry.

They acknowledged that the investment already generates about $ 9 billion in revenue for the cryptography industry.

Ethereum 2.0 was launched in December 2020 to launch this transition.

Ethereum surpassed Bitcoin in Q1 and Q2 in 2021

By to the provider of market insights:

“Despite the high correlation with Bitcoin, Ethereum exceeded BTC in Q1 and Q2.”

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As a debate over whether Ethereum will one day be better than Bitcoin, ETH’s daily active addresses have recently exceeded For the first time in BTC’s encryption history.

Image source: Shutterstock

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