ether News; The crypto money market has gone green with the surges in the past 24 hours. The leading cryptocurrency, Bitcoin, is up 5.89% in the past 24 hours to over $ 50,000. Bitcoin surpassing the $ 50,000 mark reignited the movement in the crypto money market. ether The price has increased about 7% in the past 24 hours, rising to the $ 3,800 level. After some slight consolidation, ETH is trading at $ 3,788 at the time of writing. So what’s the reason for that ether Price to suddenly experience this surge? How did the jump come about?

ether The price has made a huge contribution to the overall green of the cryptocurrency market, increasing nearly 7% in the past 24 hours and hitting the $ 3,800 level. Chinese blockchain journalist Colin Wu explained the reasons for this surge in Ether, the second largest cryptocurrency.

Colin Wu cited the rapid increase in popularity and acceptance of Unique Tokens (NFTs) operated in the ETH blockchain network as the main reason for this increase Ether. The NFT market has recovered ether at his feet.

Interest in NFTs, the newest and most popular product in blockchain technology, has grown so quickly with the summer months that many famous names have made a name for themselves in the NFT space. Some expensive works of art were sold in NFT form. Tron CEO Justin Sun, payment giant Visa, Twitter CEO Jack Dorsey, and many more names have been in the market for days talking to the NFTs who sell and buy them.

NFT traffic on the ether Network grew rapidly. OpenSea, the network’s most popular NFT marketplace, has a trading volume of over $ 3.4 billion. In addition, NFT-based blockchain gaming platforms are one of the biggest drivers behind the increase in transaction volume in NFT products. To access detailed information on one of them, Axie Infinity, the game that brings 1600 percent to its investors in 1 month, What is Axie Infinity? Check out our article.

Colin Wu cites EIP-1559 ether Upgrade as another reason for the increase in ether Price. The burning of 164,000 ETH as of September 2nd and the fact that part of the ETH fees are now being burned are among the important reasons that increase the price of ETH.

At the same time, investors are currently switching from Solana (SOL) ether (ETH), according to data from on-chain analytics provider Santiment. This is one of the main reasons that the ether Price to the level of $ 3,500 on Monday.

📈🤝 #Solana (+ 52%) and #Ethereum (+ 18%) exchanged views in the spotlight last week as they both enjoyed their respective pumps. Crowd sentiment played a role in both pumps, and the focus that was on $ SOL has shifted heavily to $ ETH. https://t.co/GGBYzFG602 pic.twitter.com/Nup7Zf8aQ7

– Santiment (@santimentfeed) September 2, 2021

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