Ethereum Pumps 15% Mid-Week — Is $3,000 the Next Target?

In the past day, the cost of Ethereum has increased by nearly 15%, from around $1340 to $1539. While the entire market has risen significantly, Ether is one of the top performers. As a result, the total market capitalization of all crypto assets rose by 6.8 percent, reaching $1.03 trillion.

Following the Ethereum Merge, which converted the network to a Proof-of-Stake model, the value of Ether has been below the $1500 mark for just well over a month. The price of Ether did not rise as anticipated after that announcement. For nearly 40 days, the price of the cryptocurrency dropped below $1500.

The price of Ethereum Classic, a variant of Ethereum, has also risen significantly. As of this writing, one ETC is worth about $25, a gain of more than 12% in the past 24 hours.

CFTC Chairman Labels Bitcoin and Ethereum as Commodities 

This week, a sigh of relief was heard from the investing community when Rostin Behnam of the CFTC classified Bitcoin and Ether under the commodities. Gary Gensler, the chair of the SEC, disagrees with this and classified Bitcoin under the tag of a commodity while Ethereum under the tag of a security.

When it comes to their respective levels of control over the cryptocurrency industry, the CFTC and the SEC are currently at odds. When asked who would have greater authority, Behnam said that it was cynical to assume that the two organizations couldn’t work together to find solutions.

Perhaps Ether’s success might be attributed to the fact that its value is strongly correlated with the actions of national central banks. At least, that’s what CoinDesk’s interview with Markus Thielen, head of research and strategy at Matrixport, reveals.

Ethereum Show Signs of a Bull Run

Ethereum seems to be doing well now that it has left the problematic $1,370 area. It has already blown beyond there, and if the bulls keep pushing, it may explore new levels of support.

Last week witnessed a huge number of transactions on Ethereum. In one transaction, one whale transferred 320,000 ETH, according to data from Santiment. The price of Ether quickly rose once the deal was made.

As the Ethereum network matures and more participants join, it could become one of the most profitable cryptocurrencies in the coming year. DeFi might make significant progress in the coming year since the project is scheduled for major modifications. Therefore, the bulls may have been correct.

How Are Other ERC-20 Tokens Performing?

This year has been the year of some really successful presales. Here are some of the hottest presales of the tokens built on the Ethereum platform:

D2T

Dash 2 Trade, built on Ethereum, is a market intelligence platform that offers users with real-time statistics and social trading recommendations in the cryptocurrency market. Within the first quarter of 2023, when it officially launches, exchanges will start listing the native D2T token, giving early investors a chance to make a significant return on their investment.

The Dash 2 Trade presale will have a total of nine phases, with the second phase ending after $5,166,000 has been collected. Given that it has already collected over $2.5 million in a week, this is probably going to happen shortly.

To take part in the pre-sale, prospective buyers need to visit dash2trade.com and link their wallets. There, customers may use ETH or USDT to buy D2T.

At the time of posting, 1 D2T token is priced at 0.05 USDT; after the third stage begins, that price will increase to 0.0513 USDT. It will increase as it advances through the stages.

IMPT

The Impact Project is a blockchain initiative with the goal of assisting individuals and businesses in reducing their environmental impact in exchange for monetary gains.

The goal of the Impact Project, which is built on Ethereum, is to make it easier for consumers to acquire carbon credits and to demonstrate the potential benefits of blockchain technology in the battle against global warming. 

A smart investment for those concerned with the environment, society, and government is IMPT, its native token. The portal also connects users with global eco-sustainability projects and programs that may be directly funded by the users.

Impact token was one of several new cryptocurrencies that started with a presale. The token presale was a success, bringing in $10 million in just four weeks. The Impact token presale is already within striking distance of its $10.8 million goal for the first round.

Despite the fact that the token’s first stage was anticipated to end on November 25, IMPT has managed to outperform experts’ forecasts. The current token price of $0.018 is projected to reach its presale goal in the near future, at which point the second stage of the sale will commence at a price tag of $0.023.

RIA

Upwards of $300,000 in presale funds have been raised for the new crypto game startup Calvaria. The native RIA token, used in the game’s card battles, has been the subject of intense interest from cryptocurrency investors since the game’s introduction.

When Calvaria becomes a DAO, RIA will be utilized to provide community members who possess a specific number of tokens a voice in decisions made on the project’s ecosystem.

The coin is an ERC-20 standard based on layer-2 Polygon, that is significantly efficient and scalable than Ethereum, resulting in more bandwidth and reduced transaction costs, and the price will increase over the course of ten phases.

Out of a total quantity of 1 billion RIA tokens, 380 million (38%) will be made available in the presale, 25% will be allocated to a stake pool, and 20% will be allocated to a prize pool.

The remaining tokens (2% for advisers) will go toward funding the company’s operations, marketing, and crew.

The creators have already partnered with decentralized exchanges like Gate.io and KuCoin to launch the RIA token once the presale has ended and all tokens have been sold.

SolidProof has verified the integrity of the token’s underlying smart contract.

If you’re interested in this project, the Telegram group and the whitepaper on its website will provide you with all the information you need to participate in Calvaria’s presale.