Ethereum and Binance Coin hit new all-time highs this May 3

For Angel Di Matteo @shadowargelIn addition to Ethereum, Binance Coin This May 3 also stands out, reaching new all-time highs and registering a market capitalization of over USD $ 111,000 million.


Ethereum hits new all-time highs this May 3

We begin our first price report for this month of May with very pleasant news for the enthusiasts of Ethereum (ETH), since the digital currency officially exceeds the barrier of USD $ 3,100 and is quoted at the time of publication at about USD $ 3,153 per unit, thus capitalizing an increase of more than 7.7% in the last 24 hours.

This is revealed by data published by our section CryptoMarkets, where it is appreciated how the digital currency has been increasing in the last hours. Specifically, the digital currency surpassed the USD $ 3,000 barrier shortly after 9:00 pm (New York time), and from that point it continued to rise until reaching a peak equivalent to about USD $ 3,200 at 4:30 am on May 3. . Although at the present time it has fallen slightly, the enthusiasm among analysts and investors is still valid, who expect that the digital currency will continue to rise in the coming hours.

Ethereum price evolution this May 3
Ethereum price evolution this May 3

What is the reason for this increase?

While it is not surprising that the digital currency has reached these new all-time highs precisely because of the existing expectations around its commercial evolution and improvements for its network, these new all-time highs go hand in hand with a series of events that take place. this May 3.

According to reports published by Chinese analyst Colin Wu, this increase coincides with a drop in liquidity present in the main exchanges. In this regard, it is estimated that the availability of ETH on such platforms it fell by 42%, indicating that owners have been drawing their funds into their private wallets, creating a shortage amid growing demand for the digital currency. These data are also accompanied by an increase in the volume of daily operations, which is estimated at some USD $ 30,202 million traded in the last 24 hours.

Another aspect that is focusing the eyes of many on Ethereum is the update that will take place in the next few weeks. Here, important properties will come into being to optimize the operation of the network, among which the implementation of the EIP 1559; which would bring notable improvements in the reduction of transaction costs, hand in hand with the implementation of deflationary properties for the digital currency.

And the last aspect that also goes hand in hand with the aforementioned is the existing enthusiasm regarding Ethereum 2.0, the new version of the network Blockchain, whose smart contract recently exceeded 3,000,000 ETH arranged as collateral. These figures reveal great support for the system of Staking implemented for this new part of the process, and let us remember that these funds housed there are not available for commercial operations precisely because they are blocked generating profits for investors.

For more information on the price of Ethereum and the implications associated with these new all-time highs, we recommend viewing the following post:

Bitcoin, Binance Coin and the main altcoins also increase this May 3

Hand in hand with this increase seen in the price of Ethereum, We also have the cases of the main altcoins that are on the rise for the morning of this May 3, especially highlighting Bitcoin (BTC) which is heading again towards USD $ 60,000, trading at the time of publication at about USD $ 58,584 per unit.

Another coin that has also reached important milestones at the time of publishing is Binance Coin (BNB), the cryptocurrency that appears as the backbone of Binance’s ecosystem of services, which also capitalized on new all-time highs for this May 3. Specifically, the digital currency is trading at about USD $ 652 per unit, reaching a new historical peak when it surpassed USD $ 654 a few hours ago, and for the first time exceeding USD $ 111,136 million in market capitalization.

And another case that also stands out today is that of Dogecoin (DOGE), the currency that was born as a parody within the ecosystem of digital currencies and today is priced at about USD $ 0.39 per unit, with an increase of 3.2% compared to yesterday. Reports associate this increase with the incorporation of the cryptocurrency into the commercial catalog of eToro, one of the most popular brokers for trading stocks and digital currencies.

Other altcoins are also on the rise

Among other exponents that capitalize profits this May 3 are coins such as Cardano (ADA), Polkadot (DOT), Uniswap (UNI), Bitcoin Cash (BCH), Litecoin (LTC), Chainlink (LINK), VeChain (VET), Solana (SOL), Stellar (XLM), THETA and still others, which capitalize profits of between 2% and 7%.

Main winners and losers this May 3

And finally, below we review the cases of the currencies with the most pronounced fluctuations for this May 3 at this time:

Winning cryptocurrencies

Losing cryptocurrencies

Data source: CryptoMarkets, CoinMarketCap

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Ethereum and Binance Coin hit new all-time highs this May 3

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