![The second-largest cryptocurrency by market cap, Ethereum [ETH], might see further gains towards $10k within this year after reaching a new all-time high around $2,780 USD earlier today on Thursday – a roughly threefold increase forecasted by FundStrat, a marketing research firm. ETH is up about 40% for the month so far versus a 5% decline for Bitcoin [BTC]. “We’re maintaining our overweight ethereum vs. bitcoin recommendation from April last year,” wrote FundStrat during a research note outlined earlier on Thursday. “Ethereum’s market cap has risen to ~30% of bitcoin’s over recent weeks. Within the last market cycle, Ethereum broke this level and [had] as high as 80% of bitcoin’s value.” “The cryptocurrency narrative is shifting from bitcoin to ethereum and other segments like DeFi as well as Web 3.0 apps.” FundStrat is optimistic on ETH as new financial apps are being developed on the Ethereum network, that has grown significantly in scale over the last year. “These apps are generating ~3x fees for the Ethereum network vs. Bitcoin, which trades at ~3x the market cap.” “In cryptocurrency accounting terms, this is often an equivalent as a corporation using revenue, less operating costs and earning profit that's wont to repurchase stock. this suggests the network would become profitable like a company once ETH supply reduction from burned fees outpaces inflation,” outlined FundStrat. FundStrat also expects bitcoin to succeed in $100k this year and therefore the total cryptocurrency market cap to succeed in $5 trillion.](https://cdn.shortpixel.ai/client/q_glossy,ret_img,w_360,h_180/https://www.etherdesk.com/wp-content/uploads/2021/05/imageedit_3_8544706693-360x180.jpg)
Grayscale Invests $1 Bln In Cryptocurrencies.
Grayscale Investments, the world’s leading digital asset manager, acquired nearly $1 Bln in cryptocurrencies within a 24-hour period. Within an ...
![U.S Department of Justice Reveals A Fraud Case Against 'Eastern Metal Securities’ [EMS].](https://cdn.shortpixel.ai/client/q_glossy,ret_img,w_120,h_86/https://www.etherdesk.com/wp-content/uploads/2019/06/imageedit_193_5494980853-120x86.jpg)
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Turkey Introduces Complete Ban On Cryptocurrencies As Payments.
The new ban in Turkey will prohibit cryptocurrency holders from using their digital assets for payments, additionally preventing payment providers ...
Hackers Using GitHub To Mine Multiple Cryptocurrencies – Expert Analysis.
Hackers are using GitHub cloud infrastructure to covertly mine multiple crypto assets, The Record reported. The attacks were primarily spotted by a ...
Present Status Of Cryptocurrencies In Nigeria – Deputy Governor Previews.
The governor of Nigeria’s central bank, Godwin Emefiele, who earlier banned banks from servicing cryptocurrency exchanges, has reportedly clarified the bank’s ...
Present Legal Status Of Cryptocurrencies In India – Official.
Discussions for proposed legislation that might inaugurate a blanket ban on digital currency usage in India are within the final stages, consistent with a senior government official. ...
Risks & Opportunities Of Investing In Cryptocurrencies – JPMorgan Report
JPMorgan has released a new report to its private banking clients to teach them the risks and opportunities of investing in cryptocurrencies. As per ...
India No Longer Planing To Ban Cryptocurrencies – Finance Minister.
Within an official interview with CNBC this morning, Indian minister of finance, Nirmala Sitharaman announced that reports of a blanket ban on ...
Future Of Cryptocurrencies & Blockchain Technology In Nigeria.
Yemi Osinbajo - Nigeria’s vice president, delivered a speech at an economic summit today on Friday within which he spoke positively ...
South Korea Implements Direct 20% Tax On Cryptocurrencies From 1st Jan 2020.
South Korea implements a direct 20% tax on Bitcoin and other cryptocurrency-related profits starting from 1st Jan. 2022. The ...
Cryptocurrencies Are Nowhere Alike USD – James Bullard.
The president of the Federal Reserve Bank of St. Louis, James Bullard, seemingly doesn’t understand why several are looking to cryptocurrencies ...
