The most popular altcoin Ether (ETH) demonstrated the best performance of the top ten cryptocurrencies over the past day.
The coin has risen in price by more than 7% and reached its highest level since the end of February 2020. At the time of the publication of this review, ETH was trading slightly above $ 263, the last time it was at this level on February 24.
Cryptocurrency capitalization now exceeds $ 29.363 billion.
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Analysts on the Santiment platform found that for the first time since April, ether for the first time got rid of bitcoin and was able to show more impressive results. If BTC rose in price by about 2.5% per day, then altcoin turned out to be the growth leader in the list of the largest cryptocurrencies.
The researchers also highlighted that the ETH consolidation began in late May. Ethereum miners have accumulated over 38,000 coins worth up to $ 9.3 million. The total balance of mining pools reached a four-month high (1.171 million ETH).
If you look at the graphs of changes in the ether price and the balance of mining pools, you will notice that the correlation between them is increasing. Based on such data, analysts predict that ETH will be able to renew highs soon.