On Monday, May 10, the price of Ethereum, the second largest cryptocurrency by capitalization, surpassed the landmark level of $ 4000. At the time of writing, ETH has reached $ 4134.
Earlier, CryptoQuant CEO Ki Yang Ju noted thatEthereum exchange balances continue to decline, reducing the supply of the coin. The so-called “Coinbase premium” has been at consistently high levels in recent weeks, signaling, according to the expert, institutional purchases of the asset.
The altcoin indicator MVRV-Z, which representsThe ratio of market capitalization to realized capitalization, as well as the standard deviation of market capitalization, is now at its highest level since January 2018. In the long term, this is a positive signal for Ethereum.
According to network analysts, even with the currentETH price level is undervalued. Triple halving is expected to drive up Ether prices as it will reduce pressure from miners by 90%.
In addition, the growing popularity of DEX will increasethe number of daily transactions on the network, largely due to the market makers SUSHI and UNI. Over the past 12 months, DEX trading volume totaled $ 432 billion, with over 2 million addresses traded on them.
In addition to addresses trading on DEX, the number ofEthereum addresses from spot exchanges, the 7-day moving average hit a 3-year high of 1655.57. The previous three-year high was set in early January 2021. This is important for the rise in altcoin prices, as the demand on the exchanges and the traders involved largely determines the price.
Based on data from Skew and abovemetrics, the probability that the price of ETH will exceed $ 6,000 by the end of 2021 is 19%. This probability varied throughout the entire rally, and its dynamics can be seen in the following chart.
At this rate of growth in the price of ETH, the current price level is an ideal buying zone for retail traders.
Where is Ethereum more profitable? TOP-5 exchanges
For a safe and convenient purchase of cryptocurrencies with a minimum commission, we have prepared a rating of the most reliable and popular cryptocurrency exchanges that support deposits and withdrawals of funds inrubles, hryvnias, dollars and euros.
The reliability of the site is primarily determinedtrading volume and number of users. By all key metrics, the largest cryptocurrency exchange in the world is Binance. Binance is also the most popular crypto exchange in Russia and the CIS, since it has the largest cash turnover and supports transfers in rubles from bank cardsVisa / MasterCardand payment systemsQIWI, Advcash, Payeer.
Especially for beginners, we have prepared a detailed guide: How to buy Ethereum on a crypto exchange for rubles?
Rating of cryptocurrency exchanges:
| # | Exchange: | Website: | Rating: |
|---|---|---|---|
| 1 | Binance (Editor's Choice) | https://binance.com | 9.7 |
| 2 | Bybit | https://bybit.com | 7.5 |
| 3 | OKEx | https://okex.com | 7.1 |
| 4 | Exmo | https://exmo.me | 6.9 |
| 5 | Huobi | https://huobi.com | 6.5 |
The criteria by which the rating is set in our rating of crypto-exchanges:
- Work reliability— stability of access to all functions of the platform, including uninterrupted trading, deposits and withdrawals of funds, as well as the duration of the market and daily trading volume.
- Commissions– the amount of commission for trading operations within the platform and withdrawal of assets.
- Feedback and support– we analyze user reviews and the quality of technical support.
- Convenience of the interface– we evaluate the functionality and intuitiveness of the interface, possible errors and failures when working with the exchange.
- Platform Features– availability of additional features — futures, options, staking, etc.
- final grade– the average number of points for all indicators determines the place in the ranking.
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