Ethereum Nears $4,000, Analysts Predict $5,000 as Penguins NFTs Soar

Ethereum (ETH) is nearing its all-time high, currently trading just under $4,000. Analysts and traders are predicting that ETH could soon surpass its previous peak, potentially reaching $5,000 or higher. This surge in ETH’s value is also driving interest in related assets, with some predicting a significant increase in the value of altcoins following ETH’s rise. The market sentiment suggests that Ethereum’s performance could lead to substantial gains in the broader cryptocurrency market, including Layer 2 solutions. Notably, the value of ‘Penguins’ NFTs has risen to 18.45 ETH, with their all-time high now at around $75,000. Ethereum ETFs currently hold assets under management at 10% of Bitcoin ETFs, despite ETH’s market cap being 25% of BTC’s. To continue reading this as well as other DeFi and Web3 news, visit us at thedefiant.io

Source: The Defiant