CryptoPotato
CryptoPotato
  • Crypto News
  • Margin Trading
  • Guides
    • Bitcoin & Crypto Guides 101
    • Bitcoin For Beginners
    • Editorials
  • DeFi & NFT
  • Buy
  • Language
  • Crypto News
  • Bitcoin For Beginners
  • Cryptocurrency Guides 101
  • Editorials
  • Bitcoin & Crypto Margin Trading
  • DeFi & NFT News
  • Bitcoin Price Analysis
  • CryptoPotato Crypto Fund
  • Ethereum (ETH) Price Analysis
  • Ripple (XRP) Price Analysis
  • Market Updates
  • Interviews
  • Buy Bitcoin with Card
  • bitcoin
    BTC$29,534.00
  • ethereum
    ETH$1,960.80
    • Market Updates
    • BTC Analysis
    • ETH Analysis
    • XRP Analysis
    • Interviews
    • Crypto Fund
    Home » Crypto News » Ethereum Blasts Past $1,550 in New All-Time High Shot

    Ethereum Blasts Past $1,550 in New All-Time High Shot

    Author: Martin Young

    Last Updated Feb 3, 2021 @ 05:17

    Ethereum prices have surged to record levels during Asian trading on Wednesday morning, topping $1,550 for the first time ever.

    At the time of writing, Ethereum is the top-performing crypto asset in the top fifty by market capitalization. Adding 13% on the day, ETH has surged from $1,380 to a new all-time high of $1,560 according to Tradingview.com.

    Ethereum price
    Chart – tradingview.com

    The move has given the asset a 15% increase over the past seven days and it has over doubled in price since the beginning of this year. Investor Mike Novogratz hinted at an ETH price of $2,600 if the bullish momentum continues.

    Ethereum Strengthens All Round

    Following Bitcoin’s ATH on January 8, it was only a matter of time before Ethereum caught up with its own. People say that history often rhymes with crypto markets which are pattern-based. Back in 2017, the gap between the two assets hitting their peak prices was 27 days, fast forward three years and that gap is an uncannily similar 27 days.

    The ETH price peak has had a wider effect on the Ethereum ecosystem as observed by industry expert Anthony Sassano.

    There is now $4.5 billion worth of $ETH locked in the eth2 deposit contract.

    — Anthony Sassano | sassal.eth 🏴 (@sassal0x) February 3, 2021

    With 2.9 million ETH locked up on the Beacon Chain contract, its value is now a whopping $4.5 billion. This is inaccessible for at least another year where it sits currently earning 9.3% per year in ETH. Add to that the fact that prices for the asset have increased by 160% since ETH 2.0 was launched and it becomes a really good investment for early stakers.

    In the DeFi sector, there is $11.5 billion in ETH locked up according to Defipulse.com which reports the number of tokens as 7.4 million. There are 14.3 million ETH locked away and earning which equates to 12.5% of the entire supply.

    One unfortunate side effect of the Ethereum price peak is another surge in gas prices. According to bitinfocharts.com, the average transaction cost has skyrocketed to just below $16 which makes smaller transactions on the network economically unfeasible.

    Other Big Movers in Crypto

    Ethereum is one of the top-performing assets at the time of press, however, there are a couple of others that have made big gains over the past 24 hours.

    Bitcoin has added 8.4% on the day to top $36,600 as it tries to reclaim Friday’s high of $38,400. Polkadot and Cardano are also having a good day with increases of 7 and 8 percent respectively while Litecoin is on a tear with a massive pump of 12% taking LTC t0 $153.

    SPECIAL OFFER (Sponsored)
    Binance Free $100 (Exclusive): Use this link to register and receive $100 free and 10% off fees on Binance Futures first month (terms).

    PrimeXBT Special Offer: Use this link to register & enter POTATO50 code to receive up to $7,000 on your deposits.

    Tags: Ethereum Ethereum (ETH) Price
    Enjoy reading? Share with your friends
    Facebook Twitter LinkedIn Telegram

    About The Author

    Martin J. Young
    More posts by this author

    Martin has been writing on cybersecurity and infotech for over two decades. He has previous trading experience and has been covering developments in the blockchain and cryptocurrency industry since 2017. Contact Martin: LinkedIn

  • bitcoin
    BTC$29,534.00
  • ethereum
    ETH$1,960.80
  • Join Our Community

    FacebookTwitter YouTubeTelegram


    Editorials
    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Bitstamp CEO JB Graftieaux: We Are Still Early (Interview)

    Okay Bears NFT Collection: The Complete Guide

    Okay Bears NFT Collection: The Complete Guide

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Our Ambition is to Become the Amazon of Crypto: Interview with Coinbase’s Guillaume Chatain

    Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

    Bittrex CBO: Why Bittrex Lost its Lead, Token Sales’ Critical Mistakes, and How to Get Listed (Interview)

    What is Balancer Protocol? Everything You Need to Know

    What is Balancer Protocol? Everything You Need to Know

    Coinbase Wallet For Beginners: The Complete Guide

    Coinbase Wallet For Beginners: The Complete Guide

    Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

    Tether Has No Plans to Go Public: CTO Paolo Ardoino (Exclusive Interview)

    Join Our Newsletter
    Become a CryptoPotato VIP
    One Weekly Email Can Change Your Crypto Life.
    Sign-up FREE to receive our extended weekly market update and coin analysis report
    We NEVER send spam. You can unsubscribe at any time.
    Invalid email address
    Thanks for subscribing!
    About
    Advertise on CryptoPotato
    About Us | Contact Us | Careers

    Terms of service | Privacy Policy | GDPR
    More Sections
    IEO List | Evaluations
    Airdrops
    Scholarship
    Cannabis Stocks News | Market Analysis
    Disclaimer
    Disclaimer: Information found on CryptoPotato is those of writers quoted. It does not represent the opinions of CryptoPotato on whether to buy, sell, or hold any investments. You are advised to conduct your own research before making any investment decisions. Use provided information at your own risk. Full disclaimer
    © Copyright CryptoPotato 2016 - 2021
    Scroll to top
    One Weekly Email Can Change Your Crypto Life.

    Sign-up FREE to receive our extended weekly market update and coin analysis report

    We never send SPAM. You can unsubscribe at any moment
    Invalid email address
    Thanks for subscribing!