Crypto Week Ahead: Ethereum Climbs Above $3,100 In Rare Rally, Bubble On Horizon?

The price of Ethereum (ETH) reached a high of $3,125.26 over the last seven days.

With a rare rally that has seen the coin surpass $3,100 at the time of writing, Ethereum (ETH), perhaps the most significant cryptocurrency after Bitcoin (BTC), has managed to rise above $3,000 for the first time in over 20 months. Although dealer hedging is mostly to blame for the ETH increase, there are also rumors of a bubble that could pop at any time, therefore it is generally advisable to exercise care and wait for the prices of ETH to stabilize before making a substantial investment.

Readers should be aware that coin prices and the cryptocurrency market as a whole are very erratic before continuing. It is impossible to predict with certainty how cryptocurrencies will perform in the future. The purpose of this article is to assist investors in staying abreast of the most significant events that have already occurred, as well as some noteworthy forthcoming events and current market circumstances. Before taking any calls, investors are recommended to conduct their own research.

Prices of Cryptocurrencies Over the Last Week

The total value of the cryptocurrency market was $1.80 trillion as of last Monday, February 19. The price of ETH was roughly $2,500, and the price of BTC was approximately $48,200.

The market capitalization increased to an astounding $1.99 trillion one week later.

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With $5.37 billion in total volume, DeFi accounts for 10.50 percent of the market’s 24-hour volume. Regarding stablecoins, the total volume is $44.17 billion, which represents 86.39 percent of the 24-hour market volume. The total market fear and greed index, according to CoinMarketCap, was rated as “Greed” with 72 points (out of 100).

As of the time of writing, 50.65% of BTC was in use.

Bitcoin reached a high of $52,864.24 on February 20 and a low of $50,646.88 on February 24 over the last seven days.

Conversely, Ethereum saw a low of $2,887.01 on February 21 and a high of $3,125.26 on February 26.