Ethereum is the second largest cryptocurrency after Bitcoin. The asset’s capitalization is almost hitting the $30 billion market. By the time of writing, ETH was trading at $270 with a market capitalization of $28.7 billion. The market cap is approaching 8-month highs.
After enduring a tough 2018, Ethereum bounced back in 2019 showing a bullish trend. With the recent cryptocurrency bullish rally and has managed to keep up with Bitcoin.
Going into the future, Ethereum is expected to hit new heights based on various developments within the Ethereum Foundation. ETH has already managed to achieve its 2019 all-time high by trading at $285 which also represented a nine-month high.
In recent months, Ethereum has been performing well both in terms of fundamentals and price movement. Data shows that Ethereum network has been processing a lot of data from many users.
The digital currency has been attracting interest from different startups and developers. Just Recently, Binance revealed that daily transactions on the Ethereum network have also gotten to a 12-month high.
Based on the recent crypto market surge, the forecast of Ethereum is bullish. In the event the price Ethereum price does not encounter any major correction, reaching the $300-$400 price mark will be smooth in the short term.
However, the growth of Ethereum cannot only be linked to the crypto market bull run alone. The Ethereum ecosystem has been witnessing positive news that can propel the second largest asset to new heights.
Ethereum is a platform that can become the home for all cryptocurrencies in the future. This aspect will power the asset’s mass adoption leading to an increase in its value.