![Ethereum recorded $1.2 billion in transaction fees for Q1 2024. This could indicate a price rally ahead.](https://image.coinpedia.org/wp-content/uploads/2024/04/04140427/Ethereum-Recorded-1.2-Billion-in-Transaction-Fees-In-Q1-2024-Hinting-Ethereum-Price-Rally-Ahead.webp)
Ethereum (ETH), price The price of bitcoin has been consolidating between $3.649 and $3.446 over the last four weeks, as bulls try to establish new momentum. This large-cap altcoin has benefited greatly from mass adoption of digital assets and web3 projects. Its fully diluted value is around $424 billion.
Moreover, Ethereum The network blockchain is still the most popular layer one blockchain for tokenization despite increasing competition from other blockchains. Solana BSC (SOL), and Tron (TRX).
Ethereum Demand Shift
Ether’s products and demand have remained strong, particularly among institutional investors looking to diversify crypto assets. The bulls have remained in control due to speculation about the US approval of a spot Ether ETF.
In addition, Ethereum achieved a deflationary state through the use of on-chain burnings following implementation EIP-1559. Ether Bunts have risen to 4.25 Millions due to the existence of decentralized top protocols like Uniswap and OpenSea.
Ethereum has attracted investors to its network through both the legacy and liquid stake programs.
Did You Know? Binance Labs Boosts Bitcoin Utility through BounceBit Investment
Bitcoin Price Halving Expected to Impact Ether Prices
Some analysts think that the fourth Bitcoin halves will happen in about 8 days, and this event could be used to sell news. It is only a matter time until the ETH/BTC pairs rebound. The ETH/BTC rebound will drive Ether’s price to all-time levels against the U.S. Dollar and start a new altseason.
A popular crypto analyst, Captain Faibik says that the Ether Price is heading for $5,000 over the next few weeks. This price increase will be fueled by crypto FOMO, or fear of missing out, after the recent halving.
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Zameer Attar
Zameer has a background as a writer and financial analyst with an interest in the cryptocurrency market. Since several years, he has studied cryptocurrencies and the market’s behavior. He is well-versed in the factors that influence the prices of cryptocurrency. He is a master at using both fundamental and technical analysis to accurately predict the direction that cryptocurrency prices will take in the future. His trading and price prediction decisions are informed by his strong knowledge of the market’s sentiment.