• About Us
  • Privacy Policy
  • Contact Us
Subscribe
Lascena
Advertisement
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021LIVE
  • Videos
No Result
View All Result
Lascena
No Result
View All Result

Ethereum (ETH) rockets to a new all-time high at $1,500 as altcoin market cools

February 3, 2021
in Cryptocurrency
Reading Time: 3min read
Ethereum (ETH) rockets to a new all-time high at $1,500 as altcoin market cools


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 $1,500 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. 

Ethereum, currently ranked #2 by market cap, is up 13.27% over the past 24 hours. ETH has a market cap of $170.7B with a 24 hour volume of $40.76B.

Ethereum Price Chart

ETHUSD Chart by TradingView

Like what you see? Subscribe for daily updates.





Source link

Facebook0
Twitter0
Linkedin0
Print0
E-mail0
Yahoo Mail0
GMail0
SMS0
Messenger0
Tags: alltimeAltcoincoolsETHEthereumHighMarketRockets
Next Post
Filecoin Hard Drive HDD Mining News | Incentivized Testnet | Ethereum Mining Rewards Increase

Filecoin Hard Drive HDD Mining News | Incentivized Testnet | Ethereum Mining Rewards Increase

Something Very FISHY is Happening RIGHT NOW in Cryptocurrency in October 2020! [BE AWARE]

Something Very FISHY is Happening RIGHT NOW in Cryptocurrency in October 2020! [BE AWARE]

Don't Miss

BUY & SELL BITCOIN ON PAYPAL, WTF?? BIGGEST CRYPTO NEWS OF 2020!!! You Have to See This!!!
Cryptocurrency Videos

BUY & SELL BITCOIN ON PAYPAL, WTF?? BIGGEST CRYPTO NEWS OF 2020!!! You Have to See This!!!

by Lascena Cryptocurrency News Education
February 25, 2021
0

Buy and sell Bitcoin on Paypal? WTF? This may be the biggest crypto news of 2020! 👀 BLOCKFI ►► https://cryptolark.co/BLOCKFILARK...

Read more
XRP Ripple IT’S HAPPENING!!! “The Next Epidemic!” | Bill Gates

XRP Ripple IT’S HAPPENING!!! “The Next Epidemic!” | Bill Gates

February 25, 2021
REVEALED: How Hollywood Greenlit The ‘Bitcoin Billionaires’ Movie | Ben Mezrich Interview

REVEALED: How Hollywood Greenlit The ‘Bitcoin Billionaires’ Movie | Ben Mezrich Interview

February 25, 2021
Antminer S17’s Replaces Antminer S9 as THE Bitcoin Miner | Antminer S17E Review, Setup, and Profits!

Antminer S17’s Replaces Antminer S9 as THE Bitcoin Miner | Antminer S17E Review, Setup, and Profits!

February 25, 2021
Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

Fractal From Last Bull Run Says Bitcoin Will Hit $100K By May

February 25, 2021

Lascena Cryptocurrency News Education

We have all the latest updated and legitimate information related to Blockchain, Cryptocurrency, latest market rates & trends, prices, new regulations along with every other thing that somehow related to crypto or digital currency market. Our main idea is to provide the kind of news that is original and at the same time, it can prove to be beneficial for our audience.

© 2020 lascena.ca

  • About Us
  • Privacy Policy
  • Contact Us
No Result
View All Result
  • Home
  • Bitcoin
  • Cryptocurrency
    • Altcoin
    • Litecoin
    • Ethereum
  • Blockchain
  • Regulation
  • Market
  • Prices 2021
  • Videos

© 2020 lascena.ca

  • bitcoinBitcoin(BTC)$47,168.00-7.29%
  • ethereumEthereum(ETH)$1,492.96-9.91%
  • Binance CoinBinance Coin(BNB)$231.72-11.64%
  • tetherTether(USDT)$1.010.53%
  • cardanoCardano(ADA)$1.070.96%
  • PolkadotPolkadot(DOT)$31.36-9.74%
  • rippleXRP(XRP)$0.433612-9.88%
  • litecoinLitecoin(LTC)$175.52-5.28%
  • chainlinkChainlink(LINK)$24.98-12.06%
  • bitcoin-cashBitcoin Cash(BCH)$491.31-9.60%