The recent surge in Ethereum (ETH) price, surpassing the $4,000 mark, has ignited a wave of interest across the cryptocurrency market, particularly among investors eyeing alternative projects like Avalanche (AVAX) and Polkadot (DOT).
As Ethereum (ETH) garners attention, other cryptocurrencies like Avalanche (AVAX) and Polkadot (DOT) have also experienced notable growth, reflecting the broader bullish sentiment in the market. Meanwhile, analysts predict 10X growth for Raffle Coin (RAFF) in the coming months.
Ethereum (ETH) Fee Model Upgrade
The monthly price of Ethereum (ETH) has seen a substantial increase, ranging between $2,510 and $4,008, with a rise of 53.57%. One significant development in the Ethereum (ETH) blockchain is the implementation of an important upgrade known as EIP-1159. Under EIP-1159, each transaction on the Ethereum (ETH) network now includes a variable base fee that adjusts according to the current demand for block space.
This base fee is burned, meaning it is permanently removed from circulation, effectively reducing the overall supply of Ethereum (ETH). Currently, Ethereum (ETH) issues new ETH at a rate of 4% per year, but this is anticipated to decrease significantly to around 0.5-1% as part of the Ethereum (ETH) 2.0 upgrade.
Avalanche (AVAX) Shows Promising Growth
The monthly price of Avalanche (AVAX) has experienced a significant increase, fluctuating between $40.0 and $52.8, with a notable rise of 31.99%. Recently, the price of the Avalanche (AVAX) demonstrated resilience as it bounced from the 50-day Exponential Moving Average (EMA) support zone.
As Avalanche (AVAX) retested the $50 mark, buyers are eager to push its price beyond this level. However, aggressive momentum is required for the bulls to overcome this hurdle and the Avalanche (AVAX) price is currently hovering around it. At present, the Avalanche coin (AVAX) price is trading at $54.64, with an intraday gain of 12.17%, suggesting a neutral stance on the charts.
Polkadot (DOT) Gains Institutional Favor
Polkadot (DOT) has emerged as a strong contender in the cryptocurrency market, with its monthly price ranging between $7.2 and $10.4, marking a significant increase of 42.67%. Institutions have shown a notable interest in Polkadot (DOT) since the beginning of the year, with Polkadot (DOT) experiencing higher inflows compared to its competitors.
In recent weeks, Polkadot (DOT) price has been exhibiting a rounding bottom pattern, a bullish reversal pattern commonly seen in stock charts. This pattern typically appears as a gradual decline followed by a gradual rise, forming a “U” shape. The rounding bottom pattern suggests a shift from selling pressure to buying interest for Polkadot (DOT).
Analysts Predict Huge Gains For Raffle Coin (RAFF)
Raffle Coin (RAFF) user-friendly process begins with a simple sign-up form, allowing users to fund their accounts using various cryptocurrencies instantly. Raffle Coin (RAFF) distinguishes itself by offering considerably lower fees compared to traditional raffle platforms. Raffle Coin (RAFF) transparency fosters a more honest, stable and trustworthy marketplace, with 40% of generated fees distributed among presale investors based on their holdings.
Additionally, 10% of the platform fees contribute to a monthly lottery. The Raffle Coin (RAFF) presale is currently in Stage One, with tokens priced at $0.016. The team’s dedication is evident through the two-year lock on team tokens, ensuring stability and the decision to lock liquidity permanently.
Find out more about the Raffle Coin (RAFF) presale by visiting the website here.
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