Cryptocurrency market analysis: Ether's rise signals increased risk appetite among investors

Cryptocurrency investors are closely monitoring the recent surge in alternative cryptocurrencies (altcoins), particularly meme coins, as concerns over the sustainability of sharp gains arise. One notable trend drawing attention is the spread between bitcoin and ether perpetual funding rates, indicating a shifting risk appetite within the market.

Timeline of Ethereum

RippleX has announced that Chief Technology Officer (CTO), David Schwartz, will present Ripple's blockchain strategy for 2024 at ETH Denver, with a focus on advancements in interoperability, the incorporation of Ethereum Virtual Machine (EVM) capabilities, and a strategic vision for Ripple's blockchain initiatives.

Amid the growing anticipation for the Ethereum Dencun Upgrade, the Ethereum Foundation has shared a new update regarding the highly anticipated event. Ethereum Dencun Upgrade Launch Date Set as March 13 In a blog post, the Ethereum Foundation confirmed that the upcoming Dencun upgrade has already been activated on all testnets successfully.

Like Bitcoin, Ethereum has also picked up steam, with the second-largest crypto token crossing the $3,000 resistance level for the first time since 2021. Interestingly, this crypto analyst believes the rally is far from over, as he highlighted a key price level that ETH could hit soon enough.

Ethereum (ETH) has surged past the $3,000 mark on February 20, 2024, marking a significant milestone for the cryptocurrency. This achievement comes after a perilous period following its previous peak in April 2022, where it plummeted to $896.11 amidst a bear market.

Three Ethereum (ETH) whales abruptly withdrew more than $64 million worth of the second-largest digital asset from a pair of centralized exchanges in a matter of days, according to the crypto tracker Lookonchain. Lookonchain reports that one whale withdrew 14,632 ETH worth $45.5 million from Binance over six days.

Ethereum (ETH), the second-largest cryptocurrency, has grabbed the spotlight after it surged past $3,200 yesterday. However, the rally has led to an increased selling pressure since long investors are trying to realize their profits.

Coinbase Global Inc (NASDAQ:COIN) CEO Brian Armstrong spoke about new ventures in Ethereum (CRYPTO: ETH) based products during a Thursday earnings call. What Happened: He said, “We've been named as the custodian in 5 of the 8 ETH ETF applications.

After breaking past $2,500 resistance, Ethereum appears poised for a renewed rally targeting $4,000 in the near future as analysts turn overwhelmingly bullish on its ascending price channel.

Bitso—the crypto-powered financial services company in Latin America—announced that it has integrated a third Layer 2 solution that will facilitate fast and efficient transactions with Ethereum thanks to the incorporation of the Optimism network.

The cryptocurrency market traded mostly high this week, led by Bitcoin and Ethereum, with other cryptocurrencies, including Cardano, XRP, and AVAX, also showing heightened price movements. LINK emerged as a big gainer, trading at $20.42 after a 10.16% gain in the past day and a remarkable 27.12% gain in the past week.