Ethereum just set a new peak, leading to a series of related altcoins experiencing strong price increases in the past 24 hours.
During this period, many cryptocurrencies like SSV, LDO, ENA, ARB, AAVE along with other altcoins recorded impressive increases, reflecting the heat of the market prior to the boost from Ethereum.
MAIN CONTENT
Ethereum just reached a new peak, triggering price increases for many related altcoins.
SSV increased by 25.4%, LDO increased by 21.6%, ENA increased by 19.6%
MEME has a notable increase of 50.4% in the recent 24 hours.
How does Ethereum setting a new peak affect altcoins?
Ethereum reaching a new peak has created a positive spillover effect on the entire ecosystem of related Tokens. Ethereum's breakout often stimulates capital inflow into altcoins based on or related to this network.
The high price of Ethereum creates an excited market sentiment, driving investors to increase liquidity and seek profits from potential altcoins. This leads to a chain reaction of price increases at the same time for many other Tokens.
Which altcoins increased the most when Ethereum's price rose?
SSV is the cryptocurrency with the strongest increase in the related Altcoin group at 25.4% in 24 hours, according to verifiable data.
In addition, LDO also recorded an increase of 21.6%, ENA increased by 19.6%, ARB by 17.4% and AAVE increased by 15.4%. These coins all have high liquidity and are of great interest to many investors as the Ethereum market becomes active.
Does the effect extend to other altcoins beyond the Ethereum system?
Not only the directly related Tokens, but several other altcoins like MEME also saw an impressive increase of 50.4% in the past 24 hours. PENGU and SOL increased by 18% and 9.9%, respectively, showing the positive spread of the rising trend.
This trend shows that the cryptocurrency market is experiencing favorable consensus, with many altcoin projects attracting significant interest from investors due to the positive overall effect from Ethereum.
"The growth of Ethereum is not only a sign of the strength of this platform but also drives a series of price surges for dependent altcoins, facilitating a stronger development of the cryptocurrency ecosystem."
- Cryptocurrency market analysis report, Q3 2024
Frequently Asked Questions
How does Ethereum's price increase affect altcoins?
When Ethereum's price increases, investors often pour money into related altcoins, increasing their liquidity and value.
Which altcoin has seen the highest increase recently?
MEME has increased by 50.4% in the past 24 hours, leading the altcoin group.
Why do Ethereum-related altcoins also increase in price?
Due to altcoins based on the Ethereum platform or benefiting from increased buying power due to ecosystem effects.
By how much did SSV and LDO increase in the recent 24 hours?
SSV increased by 25.4% and LDO increased by 21.6% in the last 24 hours.
What is the price increase of SOL in this round?
SOL recorded an increase of 9.9%, showing its positive contribution in the overall price surge.
Source: https://tintucbitcoin.com/ethereum-lap-dinh-altcoin-bung-no-gia/
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