Cryptocurrency analysis platform Santiment is optimistic about the future of Ethereum (ETH), noting that it is likely to surpass $2,000 in the next period.
“The price of Ethereum has not exceeded $1,840 since August 18. Despite this seven-month high, the network does not seem to be ‘heating up’ and creating noticeable trading barriers due to high demand. This is a good sign that ETH has an open door at $2,000 and beyond”.
Reducing transaction fees
Despite the rise in cryptocurrency prices, Santiment highlights how transaction fees on Ethereum fell below $2 when ETH hit a seven-month record high, compared to the +$8 rise earlier this month when the second largest cryptocurrency fell to a two-month low.
More see rise above $2000
A Twitter poll conducted by Santiment last weekend also showed that there are more people who believe Ethereum will surpass $2,000, compared to those who think it will first fall below $1,600.
Nearly 10% of respondents said they see Ethereum rising above $2,000 next, while 5.2% said they see ETH falling below $1,600 next.
Bitcoin’s rally is legitimate
As for bitcoin (BTC), Santiment called the March rally legitimate, while noting that it coincided with the collapse of the banking sector.
In fact, the company linked the bitcoin rally to the collapse of one of the largest US banks, Silicon Valley Bank (SVB), as it believes that this event caused a huge crisis in the banking sector and the economic environment in general.
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