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The second largest cryptocurrency in terms of capitalization, Ethereum, has updated its all-time high at around $ 1500.
The chart below shows a strong upward price momentum amid a surge in trading volumes.
Bitstamp’s 15-minute BTC / USD chart from TradingView.
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With the price skyrocketing, Ethereum’s market capitalization approached $ 170 billion.
Data: CoinGecko.
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ETH has grown by 13.6% over the past 24 hours, and 91.1% since the beginning of the year. For comparison, over the past month, the price of bitcoin has only increased by 8.5%.
According to IntoTheBlock, transactional activity on the Ethereum network peaked in January 2018, when the so-called ICO-fever.
$ ETH breaks the $1500 barrier for the first time and enters into price discovery.
And to celebrate the ATH, here are some facts:
— 100% addresses profitability
— On-chain transactional activity back to Jan 2018 numbers (averaging 1.16m daily)
— 52.38m addresses holding ETH (ATH) pic.twitter.com/wBahuL8UIk— IntoTheBlock (@intotheblock) February 2, 2021
Against the backdrop of a surge in on-chain activity, the price of gas required to complete transactions rose.
Data: ETH Gas Station.
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The largest consumer of gas is Uniswap, the leading DEX platform.
Earlier, Glassnode experts concluded that one of the most important drivers of Ethereum price growth whales.
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