Ethereum (ETH) rockets to a new all-time high at $1,650 as altcoin market cools

2021-2-4 05:00

After tremendous price surges in decentralized finance coins and many smaller-cap crypto assets, attention is finally returning to Ethereum.

The second-largest cryptocurrency by market capitalization is in the midst of shooting higher to new all-time highs as the altcoin market froth starts to cool down. Ethereum currently trades for $1,650 as per CryptoSlate market data, which is a new all-time high by the standards of most.

Ethereum is struggling slightly at this key level, with sell orders coming in at that round number, as can be seen in the chart below.

Chart of ETH’s price action over the past five weeks from TradingView.com

The trend appears to be positive despite the resistance at $1,500.

Grayscale buys to boost Ethereum

Michael Sonnenshein, the chief executive of Grayscale, just announced that the firm’s Ethereum Trust just opened its doors to accredited investors to allocate capital at NAV for the first time in over a month.

Grayscale is a digital asset manager that allows accredited investors (most often Wall Street firms and family offices) to obtain exposure to bitcoin and Ethereum.

Grayscale holds over 2.8 million ether. The firm saw around 400,000 ether worth of inflows during the month of November, which is around the same amount of ETH that was mined in that period. Many investors think that the reopening of the Ethereum Trust will result in a spike in demand for the cryptocurrency, driving the asset higher.

It is unclear how much Grayscale will see in inflows until the firm files an update to the SEC later this week or next week.

Yes, you read that correctly, @Grayscale #Ethereum Trust is open for daily subscription at NAV by eligible accredited investors.https://t.co/YfK2YUKgCj pic.twitter.com/8XmZjX36XH

— Michael Sonnenshein (@Sonnenshein) February 1, 2021

Strong fundamental trends

Ethereum is seeing fundamental trends that will likely drive value to ETH in the long run.

As reported by this outlet previously, Spencer Noon, an investor at crypto-focused venture firm Variant and an on-chain analyst, has noted that Ethereum is seeing record levels of on-chain activity by many standards.

To name just a few metrics that are at all-time highs for the cryptocurrency, Ethereum transaction fees have surpassed that of Bitcoin due to DeFi, the amount of value transferred on the network has hit an all-time high, Ethereum has hit an all-time high of daily active addresses, and there is now over $25 billion locked in the DeFi space.

Raoul Pal, a macro investor and the founder of Real Vision, is adding to his Ethereum position as he sees more potential upside in the cryptocurrency than Bitcoin:

“For longer-term HODLers of BTC and ETH this is probably a good time to start accumulating more. Personally, Ive added more ETH and now time to add more speculative crypto. Have not pulled trigger yet as doing some homework on it. Good luck ! Ugly price = opportunity.”

Disclaimer: This author is an analyst at ParaFi Capital. ParaFi Capital may hold positions in assets mentioned in this article. The views displayed in this article are opinions of the author—and the author only. 

The post Ethereum (ETH) rockets to a new all-time high at $1,650 as altcoin market cools appeared first on CryptoSlate.

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Ethereum (ETH) на Currencies.ru

$ 3748.46 (-0.23%)
Объем 24H $17.056b
Изменеия 24h: -2.11 %, 7d: -1.95 %
Cегодня L: $3735.75 - H: $3792.31
Капитализация $450.339b Rank 2
Цена в час новости $ 1649.31 (127.27%)

ethereum 650 altcoin cools market eth high

Источник: cryptoslate.com

ethereum 650 → Результатов: 38


Фото:

Analyst Who Called for $650 Ethereum Thinks This is Coming Next

Ethereum has been lagging behind Bitcoin as of late, not being able to match the immense gains seen by the benchmark cryptocurrency This trend has come about due to Bitcoin sucking the oxygen out of the room, with the benchmark crypto outperforming just about every major altcoin as of late If this trend persists, Ethereum could continue posting relative weakness on its BTC trading pair, hampering the growth it sees against the dollar as well […]

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2020-12-17 09:02


Фото:

Ethereum Approaches Key Resistance; Break Above Could Spark Move to $650

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2020-9-15 00:00


Фото:

Analyst: Ethereum May Target $650 After Invalidating Signs of Bearishness

Ethereum and the entire crypto market have shown some signs of strength today This has allowed ETH to push up towards $500, with the cryptocurrency rallying to highs of $475 before seeing some stalling momentum Analysts don’t believe that this ongoing upsurge is anywhere close to being completed One trader noted that his bearish scenario for ETH has now been invalidated, suggesting that further upside could be imminent Another trader is now setting his sights […]

2020-9-2 23:00


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2020-1-29 11:04


Разработчики Nimbus получили третий грант Ethereum Foundation для работы над Ethereum 2.0

Инфраструктурный проект Nimbus получил третий по счету грант в размере $650 000 от Ethereum Foundation. Средства получены для продолжения работы над Ethereum 2. 0 – следующей стадии развития второй по капитализации криптовалюты.

2020-1-28 21:53


Проект Nimbus получил грант от Ethereum Foundation на разработку легкого клиента для эфириума 2.0

Ethereum Foundation выделил проекту Nimbus грант в размере $650 000 для разработки легкого клиента для эфириума 2. 0. Об этом сообщается в пресс-релизе от 28 января. Nimbus — это инфраструктурный проект, запущенный в марте 2018 года компанией Status, который сегодня занимается разработкой решений для экосистемы эфириума.

2020-1-28 18:11


Количество транзакций в сети Ethereum резко упало  

Впервые с начала 2018 года количество транзакций в сети Ethereum опустилось ниже психологической отметки в 500 000 транзакций. Как видно из данных Etherscan, до этого среднее количество внутрисуточных транзакций в сети Ethereum составляло не менее 650 000 — 700 000 в сутки, — пишет Сryptocurrency.

2018-7-4 15:58


В сети Ethereum снизилось количество транзакций

Количество обработанных транзакций в сети Ethereum снизилось до значений прошлого года. Так, 2 июля 2018 года через сеть Ethereum прошло менее 500 000 транзакций. Как пишет издание Trustnodes, число обрабатываемых транзакций за сутки не падало ниже уровня в 650 000 единиц с начала 2018 года.

2018-7-4 12:34


Количество транзакций в сети Ethereum упало до рекордно низких значений

Впервые с начала 2018 года количество транзакций в сети Ethereum опустилось ниже психологической отметки в 500 000 транзакций. Как видно из данных Etherscan, до этого среднее количество внутрисуточных транзакций в сети Ethereum составляло не менее 650 000 — 700 000 в сутки.

2018-7-3 19:23


Из-за возросших комиссий в сети Ethereum снизилось количество обработанных транзакций

2 июля через сеть Ethereum прошло менее 500 000 транзакций. Как сообщает Trustnodes, с начала 2018 года число обрабатываемых за сутки транзакций не падало ниже уровня в 650 000 – 750 000 единиц. Вероятнее всего, это произошло из-за внезапно возросших комиссий, размер которых 2 июля достиг $1, несмотря на то, что сеть использовала только половину […]

2018-7-3 18:31


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