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Ethereum (ETH) demonstrated strong upward momentum this Tuesday, breaking through the significant psychological barrier of $4500, and reaching a new high not seen in nearly two and a half years. Since the low point in April of this year, ETH has achieved an astonishing increase of over 200%, pushing its market capitalization past the $530 billion mark.
The recent surge is mainly attributed to the continuous capital inflow into the spot Ethereum ETF, as well as the large-scale accumulation of ETH by institutional investors such as BitMine. Historical data shows that the strong rise of Ethereum often drives other tokens within its ecosystem to follow suit.
In such a market environment, some low-priced yet highly potential cryptocurrencies are worth investors' attention:
1. PEPE: As a popular meme coin representative, PEPE has a wide following on social media and may benefit from a boost in market sentiment.
2. Chainlink (LINK): As a leader in the decentralized oracle network, Chainlink plays an important role in practical applications, and its value may increase with the further development of DeFi and smart contracts.
3. Ethena (ENA): Although this synthetic dollar protocol project is relatively new, its innovative stablecoin mechanism may attract more attention in the current market environment.
Technical analysis shows that these three cryptocurrencies are at a critical point where a breakout is possible. If they can break through key resistance levels, there may be significant upside potential.
However, investors must keep in mind that the cryptocurrency market is highly volatile, and high returns often come with high risks. It is essential to conduct thorough research and risk assessment before making any investment decisions. As the Ethereum ecosystem continues to evolve, we may see more innovative projects and investment opportunities emerge.