In the last few days, the ethereum price keeps rising while the giant of crypto Bitcoin was relying on between $47k to $48k but in the last 24 hours, the entire market has changed Bitcoin is heading to 50k while ethereum is in a new all-time high of $3750 since April 2021.
Will this market signal a new season for all the other cryptocurrencies, as the entire market looks bullish at this point?
I think this fact of Ethereum leading or signalling the next bull run for other cryptocurrencies started few months or weeks ago and this is seen when the London hard fork was implemented and was proved effective by the crypto community. It was from there that other blockchains like Solana started getting the right attention and it kicked off its own growth, ADA on the other hand announced their smart contract features and it's price started growing as well.
In other words, it can be said that Ethereum shifted the attention to blockchains and this has caused a lot of blockchain platforms to grow massively, while it's left for projects based on these blockchains to leverage the hype and attention to grow as well, which they are doing pretty well.