Market Overview: Ethereum Hits Two-Year High! Is Tesla and Bitcoin the Hottest Asset in America?

The cryptocurrency market was not quiet over the weekend. In addition to the continued heat in the DeFi market, mainstream coins and certain altcoins have seen a resurgence similar to a bull market. Bitcoin almost reached the $12,000 mark again, while Ethereum officially broke through a two-year barrier, reaching a high of $444.7.

US's Hottest Assets: Tesla and Bitcoin

Perhaps due to the younger generation in the US being more inclined to invest than ever before, Tesla stock and Bitcoin have become the most popular assets on the technical analysis platform TradingView. This year, these two assets have brought investors returns of 275% and 65%, respectively.

In fact, back in June, TradingView conducted a poll on Twitter asking users to predict the best-performing investment in 2020. Ultimately, Bitcoin received 48.1% of the votes and was crowned as the best investment of 2020 by users.

According to TradingView data from yesterday, Tesla (stock code: TSLA) has surged from $402 to $1,660 this year, while Bitcoin has risen from $7,400 to $11,700 during the same period.

In July, among users in 31 states in the US, Tesla was the most watched asset, closely followed by Bitcoin. Surprisingly, despite Apple's market value approaching $2 trillion and a nearly 53% increase in value this year, investors have not paid much attention to it, as it did not lead in user interest in any state in the US.

Ethereum Returns to 2018 Levels

Despite Ethereum facing criticism in recent months for high transaction fees, with the average Gas Price exceeding 300 gwei on the 13th, this does not seem to hinder Ethereum's upward trend. It not only broke the $400 mark that day but continued to rise to a recent high of $444.7 (as per Binance data).

As of the time of writing, Ethereum has seen a yearly return rate of 233%, and when it reached the $444.7 level, it was a two-year-old event, dating back to July 31, 2018.

BNB Returns to Top Ten Cryptocurrencies

After facing challenges from strong contenders like Cardano (ADA) and Chainlink (LINK) this year, BNB fell out of the top ten in market capitalization, dropping to $15 at one point, returning to its low point in May.

Despite this, Binance recently released a series of positive news, including staking rewards activities, The Sandbox token issuance, and the Swipe (SXP) airdrop to BNB holders. BNB has risen from $21.15 on the 13th to a yearly high of $23.79. Additionally, compared to Bitcoin, BNB's return rate this year is still higher, reaching 70.1%.