Ethereum (ETH), the second-largest cryptocurrency, continues to lead the market with its role in decentralized applications and DeFi protocols. As Ethereum 2.0 transitions to proof-of-stake (PoS), analysts are targeting a price of $7,500 on its next leg up.
Alongside ETH, altcoins like Chainlink (LINK), Avalanche (AVAX), and the emerging MAGACOIN FINANCE are gaining traction in the crypto space.
Ethereum Price Path to $7,500: Rising Bullish Sentiment
Ethereum’s technical advancements and its central role in the DeFi ecosystem have fueled its price growth, especially as institutional interest increases.
Moreover, Ethereum network’s role in DeFi is also pivotal, as it continues to support protocols that are central to decentralized lending, borrowing, and trading activities.
According to analyst Ted Pillows, Ethereum (ETH) generated $1.4 million in fees on September 9th, leading all chains in network activity. This marks Ethereum’s dominance in transaction volume, as highlighted by its strong performance over competitors.
Top Chains by Fees | Source: X
The total value locked (TVL) in Ethereum-based DeFi protocols surpassed $40 billion, further cementing ETH dominance in the sector. Also, the recent EIP-1559 upgrade, which implemented a deflationary mechanism, reduced supply over time by burning a portion of the gas fees.
As supply diminishes, demand may increase, potentially pushing Ethereum price toward the $7,500 target.
Link and AVAX Gaining Momentum
While Ethereum maintains its leadership position, Chainlink (LINK) and Avalanche (AVAX) are emerging as notable altcoins with strong growth potential. Both tokens have gained substantial attention from investors for their solid technical foundations.
The most recent LINK price technical analysis showed strong support above $22, suggesting a potential breakout toward $28. Cipher X highlighted that Chainlink’s recent government partnerships and Grayscale’s filing for a Chainlink ETF strengthen its long-term outlook.
LINKUSD Chart | Source: X
On the other hand, Avalanche (AVAX) has become a competitive alternative to Ethereum, attracting developers and DeFi applications seeking faster transaction times and lower fees.
Avalanche’s recent innovation, subnets, allows for the creation of custom blockchains within the Avalanche network, providing further scalability. With a growing user base and increasing adoption, AVAX is well-positioned to maintain its momentum in the market.
Why This Altcoin is Attracting Investors
In the meantime, analysts reported that MAGACOIN FINANCE has become one of the most promising altcoins gaining momentum in the market. As a decentralized finance (DeFi) initiative, MAGACOIN FINANCE is focused on financial empowerment at a global level.
Notably, MAGACOIN FINANCE is already live and offers a great chance to enjoy an early investor position before the listing.
More so, the presale is selling rapidly, and several stages are already sold out. Data showed that MAGACOIN FINANCE will rise further. This indicated a potential growth of over 1000% by the time of listing, making MAGACOIN FINANCE one of the best altcoins to buy.
Also, MAGACOIN FINANCE is characterized by powerful tokenomics. The presale takes up 60% of the total supply, which allows investors to become early participants.
Final Take:
Altcoins such as Chainlink, Avalanche, and MAGACOIN FINANCE are rising to become major players in the market as Ethereum continues to lead the pack. Particularly MAGACOIN FINANCE is getting popularity and a strong market acceptance.
As the presale is soon ending, MAGACOIN FINANCE is also poised for further growth. Thus, the altcoin is emerging as one of the most profitable cryptos to purchase, along with Ethereum, AVAX, and LINK.
To learn more about MAGACOIN FINANCE, visit:
Website: https://magacoinfinance.com
Access: https://magacoinfinance.com/access
Twitter/X: https://x.com/magacoinfinance
Telegram: https://t.me/magacoinfinance
This article contains information about a cryptocurrency presale. Crypto Economy is not associated with the project. As with any initiative within the crypto ecosystem, we encourage users to do their own research before participating, carefully considering both the potential and the risks involved. This content is for informational purposes only and does not constitute investment advice.
