New ATH for Ethereum

New ATH for Ethereum

  • A few days ago Ethereum (ETH) had tried to set a new ATH, but actually only succeeded on a few exchanges.
  • Today, however, the price of ETH has finally, without a shadow of a doubt, reached its new all-time high.
  • According to CoinMarketCap, the new all-time high recorded today is $1,467.78, while according to CoinGecko it would be $1,459.93.

This is a very small difference, more or less around $1,460, but in both cases the maximum price recorded today would be higher than the one recorded on 13 January 2018, when the previous ATH was recorded.

It has to be said that Profit Evolution while ETH’s new record is only very slightly higher than the one reached during the great speculative bubble of late 2017/early 2018, BTC’s was more than twice as high.

For this reason, there are those who believe that the price of ETH actually has the potential to grow further.

Ethereum’s ATH, the similarities with 2018

Currently, the price has fallen in comparison to ATH, positioning itself more or less just above $1,400, but it should be noted that during the 2017/2018 bubble, the price stayed above $1,400 for only two days, namely on January 10 and 13. This record has also already been reached, because in January 2021 the price of ETH has already been above $1,400 for two days, namely on the 19th and 25th.

Should it remain around this level tomorrow as well, the situation will start to differ from that of three years ago.

A curious thing is that a month ago ETH was worth around $600, and a month before the January 2018 ATH the price was essentially the same: $600. Therefore, the growth curve of the last month, which led to the new ATH, is very similar to the one that led to ATH three years ago.

In 2018, after touching an all-time record, the price collapsed, falling first below $1,000, then below $600, and then below $400, in three months.

In the coming days it will be easy to see if the trend in January 2021 will be different, not least because in 2018 it took only four days to go from $1,400 to $1,000.

Polkadot steals the show from Bitcoin

Bitcoin remains searching for the floor, while Polkadot, Cardano and DeFi-Space seem to be exploring where the ceiling could be. The market update.

After a weekend with comparatively low volatility, the Bitcoin price is still looking for the ground. The crypto reserve currency did not succeed in attacking the 40,000 US dollar again. But on the downside, a support seems to be establishing itself at 35,000 US dollars, which could serve as the basis for a run to the next ten-thousand mark.

At press time, Crypto Bank is trading at $ 35,200. The meager weekly balance (minus 8.18 percent) relativizes a look at the monthly growth, which is more than impressive at 52.5 percent.

You can leave it: Bitcoin exchange rate in a 30-day comparison

While the Bitcoin rally of the last few weeks has now reached the mainstream media and prompted BaFin to issue a general warning against crypto investments , some Altcoins are about to steal the show from Bitcoin. Cardano (ADA), Chainlink (LINK) and above all Polkadot (DOT) can come up with price increases in a 7-day comparison that clearly set them apart from the rest of the top 10 crypto currencies.

Polkadot pushes Ripple (XRP) off the podium

Polkadot’s DOT token is currently panting from one all-time high to the next. In the last seven days alone, the polkadot rate has risen by almost 90 percent. The 30-day balance is even more impressive. Here, DOT, which was trading just above the US $ 5 mark on December 15, 2020, gained a whopping 229 percent. The majority of the price gains are attributable to the last seven days. One possible explanation for the current Polkadot rally lies in the announcement of the first Parachain for the Polkadot Testnet by Plasm Network.

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Parachains are one of the elementary building blocks in the Polkadot network. This is entirely dedicated to the interoperability of different blockchains and other application-specific data infrastructures. These dock to the Polkadot relay chain via Parachain. This has a limited number of slots for connecting new parachains. These slots are auctioned individually. If you want to connect a parachain to the relay chain, you have to save a DOT: Polkadot is a proof-of-stake network.

Polkadot (DOT) dwarfs the Bitcoin rally

The DOT price explosion has ensured that Polkadot has meanwhile competed with XRP, the digital asset from Ripple, for the third largest cryptocurrency by market capitalization (excluding the special case Tether).

Cardano benefits from advance praise

In addition to Polkadot, Cardano, another proof-of-stake coin, can look forward to significant price gains. In the last 30 days, ADA-Hodlers have also seen price increases in the three-digit percentage range. At the time of going to press, ADA is trading just below the 40 cents mark – 130 percent above the level a month ago. At Cardano too, the price increases correlate with positive news from the developer side.