Ethereum picks up pace in the second week of April
The many reasons for the recent hike include increase in market and social activities and anticipation of an US Ethereum ETF
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Ethereum is making headlines in the second week of April 2024, accelerating past $3,700 on April 9. In the past seven days, the crypto has seen a 6.60 percent rise.
As of April 10, ETH trades around $3,500.
Notably, the hikes noticed recently outpaced Bitcoin in growth percentages, even as the larger point remains that the two are by no means comparable and a smaller stride for Bitcoin holds equal, if not more, impact as compared to a larger step for Ethereum and other altcoins. In relevant news, Bitcoin has gained 4.46 percent in the past seven days.
Why the recent highs for Ethereum? The many factors include strong and optimistic market activities; further, the bullish momentum and rising volumes across the crypto markets have spurred on a higher degree of social activities, giving Ethereum its most recent boost.
There is also the matter of ETH derivatives. The Ethereum derivatives markets are overall signifying continued bullish trajectory for ETH in the rest of April. Notably, the upcoming significant market events include the fourth ever Bitcoin halving in just 9 days now, which has the potential to inject a great deal of crypto’s infamous volatility across all assets. However, it seems the traders in the aforementioned derivates markets remain positive.
