Ethereum Has Hit $3k Price Point, XMINING Could Also Rally
In the last 1 year, we have seen an 80% increase in the price of Ethereum. In the last one month, there’s been a 35% increase according to CoinMarketCap. Meanwhile, XMINING, a revolutionary cloud-mining project has already racked up more than $460k in presales of its token, $XMINING.
Currently, the Ethereum is stable at a price of around $3025 with a 24-hour trading volume of $12,570,799,358.
Let’s learn more about how bulls built on this momentum to reclaim the $3,000.
At the end of January, Ethereum developers released the Dencun upgrade on the Sepolia testnet, which was met with a positive response from market participants.
The increase in the number of developers and users who participate in the Ethereum DeFi ecosystem is probably a result of the Dencun upgrade, which promises to improve the capacity of transaction processing while simultaneously lowering prices. This increasing utility and acceptance could stimulate demand for ether, which would ultimately increase the price of ETH.
Investors have been increasing the amount of staking they are doing on the ETH2.0 beacon chain. This may be an attempt to get ahead of the anticipated gains that will result from the recent network improvement and the possibility of spot ETF approval.
Ethereum staking deposits have been on an upward trend since the Shappela upgrade allowed withdrawals in April, and the recent successful Dencun upgrade appears to have further strengthened stakeholders’ confidence.
Since the announcement of the Dencun testnet launch on January 31, investors have added 30835664 ETH to the Ethereum 2.0 staking contracts.
Amid this, the focus is also on XMINING, a new cloud-mining project on Ethereum for users to mine Bitcoin effortlessly without any need for
