Ethereum crosses $2000, highest level in 7 months
Riding on the optimism surrounding the Ethereum Spot ETF, Ethereum has surpassed historical levels of $2000. This marks another significant victory for cryptocurrencies after Bitcoin’s 40% surge within a span of 1 month.
On a week-over-week (WoW) basis, Ethereum gained 7%, reaching a valuation of $2054. Whales, or heavyweight cryptocurrency investors, are also entering the scene to capitalize on the surge opportunities, contributing to high-value velocity in the market.
With Ethereum registering the highest number of $1+ million transactions in 7 months, profit booking volume is also at its peak.
The market activity gained momentum after BlackRock’s announcement to start an ETH spot ETF. However, it is worth mentioning that this surge is caused by speculative trading activities and may not necessarily indicate sustainable growth.
BlackRock’s proposal has yet to get the green flag from Nasdaq, and the financial institution has a history of a hesitant approach toward integrating cryptocurrency with mainstream investment products.
Act on the news
The present situation is ripe for making good profits but may demand a higher risk-return ratio. To make this journey more profitable and less risky for our readers we bring some neat, simple but effective tools to automate the trading and simplify decision-making:
Etoro
While the heavy market surge creates opportunities for investors, small and initial traders often struggle to analyze the best points for entry/exit. Tools like ETORO help traders copy the strategies of some of the most successful traders.
With a minimum amount of just $200, reasonable fees, and transparent documentation, the platform makes onboarding easy and affordable. The homepage displays the names and success snapshots of top investors to help new traders pick the best profile suiting their preferences.
CoinScreener
While algo-trading helps you gain ready-made leverage, the importance of structured learning cannot be underestimated. It helps you fully localize, review, and optimize your market actions based on changing preferences and capital availability.
Platforms such as CoinScreener make learning easy and fun through their expansive range of resources and features purpose-built to gain accurate market insights in real time based on robust technical analysis. With little effort, you can also discover latent opportunities and gain a first-mover advantage.
Coinmarketcal
Timing is the most vital factor in any market—especially when it comes to cryptocurrency trading, known for extreme velocity and unpredictability. Tools like Coinmarketcal help you act confidently while others are still speculating.
The calendar provides all the major market-influencing events categorized in chronological order along with quick stats like voting, etc., to help you better analyze the market potential of a particular event.
Cryptopanic
Market moves on the news, and gaining real-time news updates helps you maximize the best profit out of any news. However, the market-moving news on cryptocurrency is quite scattered across multiple platforms and needs tons of manual work.
Platforms like Cryptopanic aggregate all cryptocurrency news in a single place and also bring decision-friendly features. With its deep analytics tools, you can also analyze the market impact of the news to determine the best action to take.
Crypto Research Report
Along with acting on current news, it is important to understand the fundamental strength of different tokens, especially if you are a long-term investor. The Crypto Research Report is such a tool that provides a reliable, wholesome report on different tokens based on long-term performance and success metrics on different aspects.
Along with fundamental analysis, it also brings statistical analysis and offers future insights on a specific token to help you make a well-informed decision to pick the most promising tokens. Users can also use the platform to learn the key points to consider while studying any cryptocurrency and reviewing its fundamental profile.
Conclusion
As cryptocurrency has been gaining momentum in recent weeks, investors can expect to make a substantial profit. However, it is not an easy task, as high rewards often involve high risks. So, investors are generally overwhelmed when deciding to buy/sell a token. Thankfully, there are several tools to help such cautious investors make informed decisions with more chances of making a profit. These tools offer them ready-made insights and automated features for profitable trading and gaining expertise. In this article, we review such tools to help investors make the most with the least possible risk.
