{"id":566807,"date":"2023-12-24T14:20:30","date_gmt":"2023-12-24T14:20:30","guid":{"rendered":"https:\/\/ktsl888.com\/?p=566807"},"modified":"2023-12-24T10:49:01","modified_gmt":"2023-12-24T10:49:01","slug":"ethereum-eth-lags-in-market-cap-growth-despite-positive-year-details","status":"publish","type":"post","link":"https:\/\/ktsl888.com\/news\/ethereum\/ethereum-eth-lags-in-market-cap-growth-despite-positive-year-details\/","title":{"rendered":"Ethereum (ETH) Lags In Market Cap Growth Despite Positive Year – Details"},"content":{"rendered":"
According to a report<\/a> from crypto analytics firm IntoTheBlock, Ethereum has recorded an 85% increase in its market cap over the last year, moving from around $149.18 billion to its current value of $275.98 billion. However, in comparison with other major assets, ETH performance still leaves more to desire, especially considering the many positive developments experienced by the asset in 2023.<\/span><\/p>\n Ethereum (ETH) has been one of the major headliners in the crypto space in 2023. The second-largest cryptocurrency and the most prominent altcoin has continued to retain investor interest marked due to several factors.\u00a0<\/span><\/p>\n One of these factors is the Shanghai\/Capella upgrade in April which has so far produced a significant increase<\/a> in ETH staking activity as investors are now allowed to freely withdraw their assets from the Ethereum network.<\/span><\/p>\n Ethereum grew ~85% in market cap in 2023, slightly underperforming other major assets despite upgrades, ETF applications and showing robust adoption metrics. pic.twitter.com\/cdvV085cxz<\/a><\/p>\n \u2014 IntoTheBlock (@intotheblock) December 23, 2023<\/a><\/p><\/blockquote>\n Furthermore, Ethereum has also recorded an increase in institutional adoption amidst the launch of Ether Futures ETF in the US and a growing competition among several asset managers to gain approval for the first-ever spot Ether ETF.\u00a0<\/span>Nevertheless, these developments could only boost the altcoin market shares by 85%, which while impressive, is overshadowed by the performance of other cryptocurrencies.\u00a0<\/span><\/p>\n For context, Bitcoin, the market leader, recorded a 163% gain in market cap value, while other top coins, such as ADA and AVAX, also experienced gains to the tune of 145% and 341%, respectively.\u00a0<\/span><\/p>\n Trending meme token Bonk (BONK) produced the largest market cap increase of 1,574%, followed by Optimism (OP) with 916% and Solana (SOL) with 744%.<\/a> Other notable mentions include Celestia (TIA) and Chainlink (LINK), with 459% and 199%, respectively.\u00a0<\/span><\/p>\n At the time of writing, Ethereum trades around $2,292.13 with a 0.04% gain on the last day. <\/span>Looking at the token\u2019s daily chart, ETH is currently headed for the $2,400 resistance zone, which has proven effective in recent weeks.<\/span><\/p>\nEthereum Underperforms<\/strong><\/h2>\n
\n
ETH Price Prediction\u00a0<\/strong><\/h2>\n