eth new ath Ethereum(ETH) has broken the $1500 mark for new ATH

[Whited35 15285]

ETH, the second-largest cryptocurrency by total marketcap has broken the $1500 resistance to reach a new ATH price of $1,567.61 just 4 hours ago. I am just tracking its momentum in the cryptocurrency markets now. The total marketcap of Ethereum is seen above  $174 at the time of writing. 

 

So what are the reasons for this upsurge in the price of Ethereum? I have collected the possible reasons here. 

• Increasing demands of ETH in DeFi-related activities
• Increasing on-chain transactions
• The growing strength of Ethereum in the ETH options markets
• Ethereum 2.0 staking inspired investors to hold more amounts of ETH to expect the block reward

As ETH is the native cryptocurrency of the Ethereum blockchain network, what can be the possible market scenario for it in this month?

 

 

Edited February 3, 2021 by Whited35

[Cleaner 2549]

Ethereum Crypto is ranked 2nd in the world.  I have noticed the movement of this coin for quite some time.  The price of ethereum  has pumped better day by day.  You mentioned some of the features that caused this coin to pump.  Ether has been held by many to launch the ethreum 2.0 staking system and it is being used in many markets.  However, in my opinion, it will hit 2K very soon

[Ridam 7455]

Ethereum is looking pretty stronger at the moment. As the btc isn't making any major moves these days and only we are seeing the consoldiation. The profit seems to be transferred to the Eth and as the money flow in crypto firstly goes to Ethereum , Ethereum will be seen in much higher level in coming days in my view. And if there is any breakout in the Eth/Btc and then its is likely that, Ethereum will be 2X from the current value like in 2017 in my view.

[Dorjoy12 8962]

5 hours ago, Whited35 said:

what can be the possible market scenario for it in this month?

Only if bitcoin remain stable on its price for some days again then there has a good chance  eth will break down 2000 usd too soon as like compare  to another  coin pump..  But if bitcoin again trying  to move  up or any big investor tell something  about  btc investment  then alt will go down again..

[Whited35 15285]

13 hours ago, Cleaner said:

 Ether has been held by many to launch the ethreum 2.0 staking system and it is being used in many markets.  However, in my opinion, it will hit 2K very soon

So many addresses are holding a huge amounts of Ether and in order to gain rewards from ETH 2.0 staking, multi-years locking is required. 

12 hours ago, Ridam said:

The profit seems to be transferred to the Eth and as the money flow in crypto firstly goes to Ethereum , Ethereum will be seen in much higher level in coming days in my view. And if there is any breakout in the Eth/Btc and then its is likely that

Yes, that's why I listed option market as a key to inspire ETH to achieve this milestone. Now another ATH is already there. It has just broken the another barrier of $1.6 K , oh yes 😁

10 hours ago, Dorjoy12 said:

Only if bitcoin remain stable on its price for some days again then there has a good chance  eth will break down 2000 usd too soon as like compare  to another  coin pump..  But if bitcoin again trying  to move  up or any big investor tell something  about  btc investment  then alt will go down again..

😁 Man, Ether was raising alone for some instance despite Bitcoin was stuck around $35K but yes, it's ETH/BTC price strength gets impacted when price of Bitcoin gets increased. 

[Cleaner 2549]

11 hours ago, Whited35 said:

So many addresses are holding a huge amounts of Ether and in order to gain rewards from ETH 2.0 staking, multi-years locking is required. 

I had a question, where do I get staking bonus if I hold ether.  However, many are getting the staking bonus by holding ether.  So I noticed that they get a staking bonus for holding ethereum on the beyfury.io platform.

[Whited35 15285]

14 minutes ago, Cleaner said:

I had a question, where do I get staking bonus if I hold ether.  However, many are getting the staking bonus by holding ether.  So I noticed that they get a staking bonus for holding ethereum on the beyfury.io platform.

MyEtherWallet, Coinbase,etc. are there to give you staking bonus if you lock at least 32ETH for the multi-years. Myself, I have been searching the staking pool like rocket pool that splits the block rewards even to the small ETH holders participating into their pool by holding a small ETH amounts. 

[Anastasiaa 27]

well, the speculations that the ethereum will likely over take bitcoin in market value is gradually happening, perhaps before the year ends we might see even higher ATH for ethereum

[Obliv0n 333]

On 2/3/2021 at 6:03 AM, Whited35 said:

So what are the reasons for this upsurge in the price of Ethereum? I have collected the possible reasons here. 

• Increasing demands of ETH in DeFi-related activities
• Increasing on-chain transactions
• The growing strength of Ethereum in the ETH options markets
• Ethereum 2.0 staking inspired investors to hold more amounts of ETH to expect the block reward

As ETH is the native cryptocurrency of the Ethereum blockchain network, what can be the possible market scenario for it in this month?

 

I believe that this month will bring more surprises, since it is assumed that in March mining will stop as we know it, so it is likely that when supply decreases, demand will be greater than this and the price will increase a little more, I do not know he put on the current situation of ETH, but I guess that may be an important factor, right?

[Dorjoy12 8962]

13 hours ago, Whited35 said:

Ether was raising alone for some instance despite Bitcoin was stuck around $35K but yes, it's ETH/BTC price strength gets impacted when price of Bitcoin gets increased. 

I am hearing lot of big investor  tweet about different  altcoin but unfortunately  hearing no news about  eth yet  though  its pumped  by its ownself  as like you have said..  And i think  this is happen just because of huge transaction  on eth blockchain  as all the transaction  need eth gas fee..

[Raqeebzy 6456]

On 2/3/2021 at 12:03 PM, Whited35 said:

ETH, the second-largest cryptocurrency by total marketcap has broken the $1500 resistance to reach a new ATH price of $1,567.61 just 4 hours ago. I am just tracking its momentum in the cryptocurrency markets now. The total marketcap of Ethereum is seen above  $174 at the time of writing. 

And it broke to $1689 all time high shortly after with market capitalization of over $185billion. 

So many reasons could have promoted that. From DeFi to ETH 2.0, etc as you have mentioned, resulting to high traffic on ETH network. As much as I am quite happy for this new milestone, the increasing gas fee has been giving me some headaches.

[Whited35 15285]

9 hours ago, Raqeebzy said:

the increasing gas fee has been giving me some headaches.

It demands at least $5 equivalent fee per ETH transactions. I am attempting to send ETH after mid-night in Europe expecting the less congested network but the problem is still the same. Investors are purchasing a huge amounts of ETH to hold and this sort of activities have definitely impacted the supply of ETH in its circulation to effect the supply of ETH on the exchange sites. 

[rekter 8129]

9 hours ago, Raqeebzy said:

As much as I am quite happy for this new milestone, the increasing gas fee has been giving me some headaches.

Long time people were waiting for alt that's going to be "eth killer", and now it looks like it's Eth, that's going to be the new Eth killer.

 

I am guessing that the price can keep rising to the end of the cycle as speculation doesn't need a working product.  And Dapps aren't for normal users anymore as they are too expensive. NFT markets are blossoming but again, i personally won't be using a system where i need so much gas for doing a transaction. Even for speculative purposes.

[merlina54 14]

In 2019 when I started I remember that ETH barely reached $ 200 and now this year I am surprised by the wonderful growth it has had in a short time, although I am new to the world of cryptocurrencies I have noticed it with the growth of BTC, ETH also grows , but this time it has taken off much more, breaking its all-time highs.

 

On the other hand, those of us with large amounts of stored ETH made generous profits from this increase, but those of us who handle small amounts are affected by the increase in transaction fees, in the same way that has happened with other cryptocurrencies that had a significant increase in recent times.

[Whited35 15285]

On 2/6/2021 at 4:18 PM, merlina54 said:

On the other hand, those of us with large amounts of stored ETH made generous profits from this increase, but those of us who handle small amounts are affected by the increase in transaction fees, in the same way that has happened with other cryptocurrencies that had a significant increase in recent times.

Unfortunately, it was the bitter truth but no need to take more worries. This chaos to take more fees from PoW miners will be eventually ended once decentralized validators are gathered to run validators node. It will be expected by the end of this year or in the beginning of 2022. This ETH price increase and ETH 2.0 has some sort of connections. 

[Froshk 1828]

These Absolutely fascinating! 

Thanks to the increasing defi and Dapps that are steadily being implemented and built under these wonderful coin, the ATH keeps changing and each time breaking the previous one with a large margin. 

[Whited35 15285]

On 2/7/2021 at 9:26 PM, Froshk said:

the ATH keeps changing and each time breaking the previous one with a large margin. 

Both Bitcoin and ETH are appeared to be competing for new ATH one by one. Due to EIP-1559 implementation for Ethereum 2.0, ETH can be seen to follow bullish uptrend soon. I can just predict now, ETH has capability to break $2.5K barrier by the end of February. The craze of ETH is looking amazing due to PoS.