Ethereum is about to join the ATH club soon as it surged 50% against Bitcoin with the bulls charging today. In addition, ETH made massive grounds against BTC in the past few weeks as well so let’s take a closer look at the Ethereum price news today.
At the time of press, ETH was trading at $1330 which was its highest point since January when it passed the all-time high of 2018. The move added over 11% to the ETH prices on the day while Bitcoin started consolidating around the $36K price zone. The charts show that the ETH price is below $1500 in January 2018 so it is only $150 away from hitting this level again. The ETH prices are measured in USD but there’s also a price measured in Satoshis and it surged 50% in two weeks as BTC retreated from its peak above $40K. The move was observed by the TheBlock co-founder Mike Dudas:
“ETH up > 50% in #BTC terms over the past two weeks pic.twitter.com/qxiGqtUGIQ
— Mike Dudas (@mdudas) January 19, 2021”
The crypto community was bullish while the BTC maximalists were silent in the past few weeks. Binance’s CEO Changpeng Zhao commented that Ethereum is about to join the ATH Club:
“#ETH is about the join the new ATH club. 👏
— CZ 🔶 Binance (@cz_binance) January 19, 2021”
MEssari researcher Ryan Watkins reported that all ETH transactions went parabolic this month and the network processes about $3 billion more than BTC does. This is mainly because of the large stabelcoin activity as the majority of the team is based on the ERC20 standard. ETHhub co-founder Eric Conner said that so-called ETH killers also did well lately:
“The most hilarious part about this market is once the max amount of suckers get pulled into Ethereum killers, ETH rips up.”
Industry observer Bleeding Crypto commented as well that he got essentially bullied for saying back In 2019 that ETH will rise again and hit a new all-time high. Plenty of people at that time said that he was crazy and that ETH is dead. Ethereum is not the only asset that is approaching a peak in its rally. ETH is still almost 10% away from its all-time high but this gap could be closed very fast. Rival Network Polkadot made a new surge with the coin hitting $19 and flipping XRP in terms of market cap. Binance Coin made a new milestone as well with the coin reaching a price of $46.50. Uniswap’s UNI is hovering at a new all-time high of $9.70 and LINK peaked at $23.50.
DC Forecasts is a leader in many crypto news categories, striving for the highest journalistic standards and abiding by a strict set of editorial policies. If you are interested to offer your expertise or contribute to our news website, feel free to contact us at [email protected]
Credit: Source link