The market value is approaching JPMorgan Chase, can Ethereum hope to reach $10,000 by the end of the year?

Bitcoin is still stuck in the range of 54,000-60,000 US dollars in the near future and maintains a sideways trend. At the same time, Ethereum continued to soar, breaking through 4,000 US dollars for the first time on the evening of May 9. According to comparison terminal data, as of press time, the price of Ethereum is 4,116.06 US dollars, making its market value reach 476.6 billion US dollars, while Bitcoin is 1091 billion US dollars. If you take the banking giant JPMorgan Chase for comparison, its market cap is $488 billion, which is only $11.4 billion behind Ethereum.

Data: The current total market value of the Cosmos ecosystem is US$61.28 billion: According to Jinse Finance, according to the latest data from CoinGecko, the total market value of the Cosmos ecosystem is US$61.28 billion (US$61,286,639,780 at the time of writing this article), and the 24-hour transaction volume is US$4,573,514,021. The current top three tokens by market capitalization are: Terra ($29,782,857,175), Cronos ($9,670,531,682) and Cosmos Hub ($7,985,545,004). [2022/3/9 13:45:12]

Year-to-date, Ethereum is up about 435%, while Bitcoin has "only" roughly doubled. Although Bitcoin is considered to be the currency of the Internet age, it is also known as Gold 2.0. However, traditional financial entrepreneurs pay more attention to the financial ecosystem of Ethereum and the raging Defi. They all hope to use Ethereum to change the rules of traditional finance.

40 of the top 100 coins by market value rose and 60 fell: Jinse Finance and Economics shows that the price of BTC today fluctuates between 10924.33-10673.64 US dollars, and the market as a whole is down. 40 of the top 100 coins by market value rose and 60 fell. Among them, the top three currencies were: ENG rose by 21.3%, ABBC rose by 16.16%, and OMG rose by 14.62%. The top three currencies were: UQC fell by -15.75%, CVT Decline -7.01%, REN -6.94%. [2020/9/29]

Analyst Rekt Capital has spotted a recent uptick in ETH/BTC, the first time since 2017 that it has seen such a massive rally.

FTX platform currency FTT has an annual cumulative increase of 32.5 times and now has a reported market value of 380 million US dollars: Golden Finance News, FTX platform currency FTT opened a private placement round in May 2019 at a price of 0.1 US dollars, and was officially launched on July 29 of the same year at a price of 1 US dollar . As of the newsletter, FTT is currently quoted at $3.35, a cumulative increase of 32.5 times since its launch, and a circulating market value of $380 million.

According to the white paper agreement, FTT implements a weekly regular repurchase and destruction mechanism, and part of the destruction comes from 33% of the handling fee collected by FTX. FTX has destroyed more than 5 million FTT in total, and the total amount of destruction is close to 17 million US dollars. Currently, FTT has been listed on 6 exchanges including Binance, BitMax, CoinEx, Huobi, WazirX and Bitfinex. [2020/7/29]

But compared to Bitcoin’s $1 trillion market cap, Ethereum still has a long way to go. It is worth noting that with the soaring value of Ethereum and the gradual entry of institutional investors, V God, the founder of Ethereum who has just become the youngest cryptocurrency billionaire, is also full of confidence in the future of Ethereum. On the difference between Ethereum and Bitcoin, Vitalik expressed his views from the perspective of the community, "Ethereum and Bitcoin communities do have a big difference in philosophy in this regard, and Bitcoin supporters really value nodes. The "purity" of Ethereum is that users can use the current Bitcoin node to directly verify everything that happened from the first day Bitcoin was created. But for Ethereum, future researchers must use relatively Ethereum’s nodes are iterative to check earlier parts of the chain with earlier clients. This difference between the community and the blockchain is not the only thing that sets the Bitcoin and Ethereum communities apart.”

Supporters of ethereum took to social media to cheer for the $10,000 goal by the end of the year. While that may seem distant, other analysts predict that as long as Ethereum maintains its current momentum, the price could reach $6,000 by at least the end of the year. The cryptocurrency derivatives trading platform Deribit also launched Ethereum options with a strike price of $50,000 on Monday, which is the highest strike price option in Ethereum history, and 12,500 contracts have been traded so far. The option expires on March 25, 2022. Hitting $10,000 by the end of this year is a small goal by comparison.

Part of Ethereum’s rise is due to the upcoming “London” hard fork upgrade in July, which is planned to drastically reduce gas fees and thus improve the usability of Ethereum again. And Ethereum's guidance of the consensus mechanism to proof of rights and interests will also dispel the so-called environmental protection arguments of anti-cryptocurrency opponents.

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