The crypto market had another strong day as the global market capitalization surged by 1%. While Bitcoin continues to trade sideways above $30k, Ethereum is dominating the bull rally.
ETH is now up over 4% in the weekly time frame and is close to breaking the $2k price level.
The strong inflows into the crypto market have boosted other major altcoins, such as Bitcoin Cash and Litecoin as well as newly launched tokens, such as yPredict and Ecoterra.
Ethereum Inches Toward $2k
Major altcoins are in a state of euphoria, with Ethereum leading the way. Ether has surged 2.3% over the past day, bringing its weekly rally to 4.2%. The token is currently trading at $1,963 and is extremely close to hitting the $2k mark for the second time this year.
ETH is currently displaying bullish strength due to the institutional adoption of crypto, led by Bitcoin. Several TradFi giants such as BlackRock and Fidelity have filed for spot Bitcoin ETF.
Bloomberg Intelligence shows that various institutions have previously applied for spot Bitcoin trading as many as 30 times, but have been rejected by the SEC. Therefore, an approval from the top market watchdog would likely be incredibly bullish for the entire crypto industry, including Ethereum.
The crypto market tumbled after SEC officials claimed that the recent filings have been inadequate. However, brokerage firm Bernstein believes that the chances of approval by the SEC are “fairly high” as institutions such as Fidelity are already refiling their applications.
Ethereum is also enjoying its fair share of institutional attention. A new crypto exchange EDX, backed by giants Charles Schwab, Citadel, and Fidelity, has offered Ethereum trading to its users. The exchange offers trading for only three other crypto assets – Bitcoin, Bitcoin Cash and Litecoin.
Experts believe that the sudden institutional attention on Ethereum may be a signal that the token will not be labeled a security by the SEC.
The market is also exploding due as economic data continues to signal cooling inflation levels. The Federal Reserve already paused its interest rate hike last month. If the central bank continues to pivot from its hawkish stance, ETH and other altcoins can see remarkable price growth.
Which Altcoins Could Also Surge?
The current bull rally has been rewarding for altcoins, especially high-utility projects with enormous real-world value.
Other altcoins like Bitcoin Cash and Litecoin are pumping, while YPredict and Ecoterra are two presale tokens that are also displaying significant growth.
AI-Powered Trading Platform YPredict Nears $3 Million In Presale
YPredict has emerged as one of the most talked about crypto presales of recent weeks. The token has raised $2.7 million and is close to hitting the $3 million mark.
$YPRED is currently priced at $0.09 but that will increase by 28% as it moves to the next stage of presale, offering an exciting opportunity for early investors.
AI-based crypto projects are in high demand – they have already amassed over $5 billion in market capitalization. YPredict’s wide variety of market tools and ML-based predictive trading can help it become a major player in this space.
All $YPRED holders are eligible for free-of-cost access to the Predictions platform – it comprises accurate price models of thousands of crypto assets and securities. Meanwhile, traders can use the Analytics platform to gain valuable market insights through top-notch pattern recognition algorithms, transaction analysis and sentiment analysis.
The yPredict Marketplace is the company’s flagship platform – it allows top AI & ML experts to publish accurate and vetted data models. Traders can subscribe to these models and make informed real-time decisions.
Apart from powering this all-in-one ecosystem, $YPRED also offers lucrative rewards to holders. Investors can earn up to a whopping 45% quarter staking reward and also enjoy exciting discounts while using the yPredict platform.
Exciting Recycle2Earn Token Ecoterra Nears Launch, Is A Tier-1 Listing Next?
Top eco-friendly token Ecoterra is another crypto gaining traction and has entered the final stage of its triumphant presale. It has now raised $5.7 million and is well on its way to hitting the targeted $6.7 million.
Despite the turbulent market conditions, $ECOTERRA has been a fan favorite of crypto investors throughout the presale, likely due to its exciting real-world utility. The Ecoterra project encourages individuals and corporations to play their role in reversing anthropogenic global warming.
With the help of blockchain technology and lucrative tokenomics, the project is aiming to create a sustainable circular economy of recycled products.
Corporations can create a stellar reputation by purchasing recycled raw materials at low cost – meanwhile, Individuals can earn $ECOTERRA tokens for recycling waste products through the R2E application.
Companies and individuals can also play a huge role in helping achieve carbon neutrality. They can purchase verified carbon units through Ecoterra’s Carbon Offset Marketplace and reduce their greenhouse gas footprint.
While the platform accepts payments in Bitcoin, USDT and even fiat, the $ECOTERRA token is the preferred option – it costs low transaction fees and allows the possibility of staking.
Due to its high utility, the token is considered a likely candidate for a Tier-1 exchange listing, which could result in a bullish surge. Investors can take advantage of this by purchasing $ECOTERRA through bank cards or by swapping ETH or USDT tokens. The project is also offering a 10% bonus to every user buying the token in the final stage.
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