Ethereum’s New Record is Driven by Project Achievements
Ethereum’s new record is driven by project achievements
While Bitcoin (BTC) continues to consolidate, Ethereum (ETH) is leading the rally in the crypto market, making a 15% spurt and hitting a new all-time high above $ 1,450. Thus, Ethereum’s market cap has surpassed $ 163 billion again.
The current rise in ETH prices is due not only to investor optimism. The crypto project is confidently continuing its development, thanks to which its intranet foundations have become even stronger. Additionally, ETH liquidity on exchanges is falling faster than expected.
It looks like investor confidence in Ethereum continues to grow as Ethereum 2.0 deposit contracts have also reached a new ATH approaching $ 3 billion. There are other advances made by Bloqport.
Thinks it might be time for ETH’s price to also make a new all time high.
— Bloqport (@Bloqport) January 24, 2021
In early January 2021, we saw organizations withdraw the maximum amount of BTC from exchanges, and the same is now happening with Ethereum.
According to CryptoQuant data, Ethereum recorded the largest outflow from the network – about 660,000 ETH left exchanges within one hour on Saturday 23 January. Most of the ETH has supposedly gone to either cold storage or staking to Ethereum 2.0.
According to analyst firm Glassnode, total ETH addresses in revenues hit a new all-time high of 51.9 million.
Previous ATH of 51,970,634.345 was observed on 21 January 2021
— glassnode alerts (@glassnodealerts) January 24, 2021
The Ethereum blockchain hosts most of the DeFi applications on the market. With Ethereum`s new record in price, the total locked-in value in DeFi is also rolling over to the new ATH at $ 26.56 billion (DeFiPulse data).
Circle CEO Jeremy Aller believes that with Ethereum going to ATH, DeFi will see explosive growth:
New ETH ATH, entire DeFi landscape set to see explosive growth.
— Jeremy Allaire (@jerallaire) January 25, 2021
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