The US election result has triggered the market, and now BTC and ETH coins are doing better—this time when Bitcoin has crossed the $76k price mark and ethereum has touched the 3000 USD mark. Other coins like Solana and BNB coins are also going up. It is good to see that the market has turned green and most of the coins are visible in green colour and a great movement can also be observed with top coins which is great and looks like Bitcoin is going to make it to the 80,000 US dollar price mark soon. This kind of growth is highly expected from the Bitcoin price because it is the top coin in the market and now Ethereum is also following a great trend.
Ethereum is the second coin in the market by market cap and now this coin has crossed the price mark of three thousand U.S dollars which is another fantastic movement. As of now the Ethereum dominance in the market is over 14% which is quite good and if this trend continues to grow like this then I am hoping that soon it is going to touch 15% market dominance which I think is great. This time it is expected that the ETH is going to be created and in the last cycle we have seen an all-time high price for this coin around 5000 U.S dollars. This time it is expected that Ethereum could touch the $10,000 price mark and most probably it will happen in the year 2025.
Ethereum is a solid project in terms of technology and it is a leading blockchain network. It's not that there is no competition instead many chains are competing with the Ethereum network but this is still a preferred network for the projects because of security and scalability reasons. It is a highly safe and secure blockchain network and this is why leading projects prefer this chain to build their project because they don't want to compromise on safety and security which is why this network is getting more attention even though the transaction cost has been one of the controversial issues. Although the transaction cost has improved a lot over the period but still sometimes it is quite high which is surely not a reasonable amount for many users.
There have been multiple scenarios in the past when the cost of the transaction fee is higher than the overall value of the transaction but the team behind Ethereum has worked on it and they have improved this scenario quite a lot. It is not something that we can compare with Bsc or the polygon network but still, if we do the comparison between what we had as a fee and how much it is charging now then you will notice a significant improvement.
Looks like the year-end for 2024 is going to be great and if this pace continues to run like this then we might see good price increases. Its expected that Bitcoin will make it to 100k or even more and seems this time the bull run is going to be much bigger than what we have seen in the market. Let's hope that ethereum makes it 5k and when is it going to happen? By this year's end or next year, 2025 is going to be a great year for the crypto market.
Thank you