The cryptocurrency market is experiencing a surge in Ethereum, which has increased by nearly 12% over the past week. This rise is accompanied by growing interest in altcoins and DeFi.
Predictions on Ethereum and Altcoin Season
Crypto analyst VirtualBacon states in his new video podcast that the current Ethereum increase is not just hype, but the beginning of a new cycle where Ethereum will play a leading role. He connects the future growth of altcoins with the tokenization of real assets and stable infrastructure, mentioning several tokens that could rise once ETH breaks its all-time high.
DeFi Makes a Comeback
Leading DeFi projects include Uniswap (UNI) and Chainlink (LINK). UNI remains above $10.52 with increasing trading volume, indicating growing interest in DeFi protocols due to ETH's rally. LINK is hovering just below $20, showing strength after bouncing off the $17 support level. Analysts note that UNI and LINK could play a central role in ETH's rally.
Memecoins and Infrastructure Tokens
Memecoins are once again drawing attention, particularly PEPE, which is nearing resistance at $0.000014 due to high social activity. MOG is showing sideways action with slight upward pressure, while Ethereum Name Service (ENS) is rebounding strongly from recent lows, benefiting from positive sentiment regarding its infrastructure.
With Ethereum’s current growth, interest in altcoins and DeFi is expected to surge, indicating potential future changes for the cryptocurrency market.
