The course has updated the historical maximum (ATH) on the Asian trading session on Monday, January 25th. The second largest cryptocurrency approached $ 1500
During the day, Ethereum went up by 13% and entered the leaders of growth among the dozens of the largest coins. According to TradingView.com, ETH has established a new maximum at $ 1480.
Since the beginning of 2021, the ETH rate has doubled, and over the past 12 months, the increase was 800%. At the time of writing, ETH is trading at $ 1440. Despite the rollback from the maxima, the coin retains the bullish potential.
Join our telegram channel to be aware of the main trends of the crypton.
The event is not left unnoticed in the industry.
The head of the OKEX cryptocurrency exchange (Jay Hao) noted that second-level solutions can be a driving force for Ethereum;
Race for profits
Sectoral Observer Lark Davis noticed that the volume of Ethereum on centralized stock exchanges was reduced to the minimum value over the past fifteen months. Usually it is a good sign. Traders are not going to sell coins and bring them on wallets for long-term storage.
#ethereum Balance ON Exchanges Has Reached A 15 Monh Low, and withDRAWALS ARE not Slowing Down. Price Probably Going to Double in the next Two Weeks Like #bitcoin. DID.
- Lark Davis (@TheCryptolark) January 25, 2021
However, this time the investors bring Ethereum from the stock exchange not only on cold wallets. A significant part of the coin goes to Staying ETH 2.0 and in the protocols of decentralized finances (DEFI).
See also: How the Ethereum course grew: Review of previous rally
According to ETH 2.0 Launchpad, 2.82 million Eth is blocked in the Beacon Chain contract. At the current rate it is about $ 4 billion. Annual percentage yield in ETH for Staying participants is currently about 9.3%.
About 7 million ETH are blocked in DEFI. This is evidenced by DEFI PULSE data. Thus, 8.6% of the current emission is actually derived from the appeal. As in the case of Bitcoin, investors are customized to keep coins, and not speculate by it for the purpose of quickly earnings.
Other criteria, for example, the number of search queries in Google or the complexity of mining, also reached new heights.
Gas prices continue to grow
Along with the increase in the cost of ETH, the average cost of transactions in the network has grown. According to BitInfocharts.com, gas prices reached $ 9.30. The maximum was recorded on January 11 at $ 16. Despite the correction, gas, most likely will continue to rise this year.
The cost gain is still overlaps any transaction costs, since everyone who bought Ethereum is previously in profits. Nevertheless, the relevance of the deployment of cost-effective solutions, such as EIP 1559 more than ever.
What do you think? Share with us your thoughts in the comments and join the discussion in our telegram channel.
The POST course Ethereum updated the maximum and approached $ 1,500 appeared first on beincrypto.