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Today is a great day for this cryptocurrency! In the previous week, all cryptocurrency specialists “congratulated” the growth of the Ethereum cryptocurrency listing and the limit of 3 thousand dollars…today another milestone was passed and the cryptocurrency recorded 4 thousand dollars!

What is the impact of such a listing of Ethereum?

The previous week saw it overtake Bank of America as the 28th largest asset holder in the world. Ethereum has also eclipsed the capitalization of market giants like Wal-Mart and Johnson and Johnson, and is knocking on the door of JPMorgan Chase – the largest U.S. bank by assets under management. 

Part of that growth may be related to growing institutional interest in the asset. This week, a Coinshares report outlined that institutions bought more than $30 million in ETH in late April. Money managers are now believed to hold $13.9 billion in ETH. 

Ethereum holders are growing at an alarming rate!

Ethereum is growing in strength, it’s impossible to ignore, especially if we’re talking about people who specialize in cryptocurrencies. Last week, the European Investment Bank announced that it issued a $120 million bond on the world’s largest layer-1 in partnership with major banking entities such as Goldman Sachs. In addition, the growth of decentralized finance – one of Ethereum’s key communities and use cases – is proceeding at an incredible pace.

However, the most bullish catalysts on the horizon are a pair of important updates to the network’s infrastructure: EIP-1559 and ETH 2.0. EIP-1559, to be included in the “London” hard fork, will include an overhaul of the ETH fee structure and is expected to significantly lower the cost of gas and potentially make ETH a more deflationary asset. ETH 2.0, on the other hand, will transition the network to a proof-of-stake consensus model that is expected to reduce selling pressure and encourage asset ownership.

Will Ethereum overtake Bitcoin?

The remarkable rise, also known as a run, has even prompted renewed speculation that a “flippening” may be on the horizon – a long-awaited event among the Ethereum community in which ETH will overtake BTC in market capitalization. We are monitoring the situation and are confident that the battle for the number 1 position among cryptocurrencies will play out before our eyes.