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The ETH rate has grown by 30%, to the historical …

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The ETH rate has grown by 30%, to the historical ...

The ETH rate has risen by 30%, to a historic high at hand
CONTENT

  • ETH approached all-time high

  • Bitcoin dominance falls

  • Stablecoin reserves on exchanges hit record high

International consortium of news organizations developing transparency standards.

The second largest cryptocurrency by market capitalization approached the maximum of 2018, having risen in price by 30% per day

The ETH rate has grown by 30%, to the historical ...

The price of the ether (ETH) cryptocurrency approached the all-time high of 2018 at the level $ 1432. At the time of this writing, the price of ETH / USDT is $ 1055 (+ 32.3%).

Source: coinmarketcap.com

ETH’s market cap surged to nearly $ 125 billion. At the same time, the price of bitcoin sank by more than 6% against the backdrop of the rally of altcoins. BTC’s dominance in the market has also declined since 72.8% before 67.3%.

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Source: coin360.com

ETH became the leader

The ETH rate has grown by 30%, to the historical ...

Messari analyst Ryan Watkins previously stated that investors would prefer to invest bitcoin profits in ETH tokens.

“If you have already recognized bitcoin as a valuable asset, it is easier for you to take the next step and switch from BTC to ETH,” he wrote then.

Also, according to Watkins, in 2021 ETH will be in special demand among institutions due to a more affordable way to increase capital..

The arrival of institutions in secondary markets is quite possible, since the cryptocurrency industry, according to Henry Arslanian, head of the fintech and cryptoindustry of the Asian region at PriceWaterhouseCoopers, already has a ready-made infrastructure for the arrival of institutional investors.

How far the ETH course can go – read in the special material BeInCrypto.

Correction is coming

Meanwhile, the total number of reserves of all stablecoins on crypto exchanges reached a record level at around 3.05 billion units, according to the indicators of the CryptoQuant resource.

Learn how to trade in the cryptocurrency market with BeInCrypto partner – cryptocurrency exchange StormGain

Source: cryptoquant.com

ETH rate has grown by 30%, to historical ...

Users believe that such a volume of stablecoins, combined with an increase in deposits, may signal an upcoming sale of cryptocurrencies amid a correction. BeInCrypto previously reported that ETH whales moved $ 22 million worth of cryptocurrency in just a few hours.

What do you think? Share your thoughts with us in the comments and join the discussion in our Telegram channel.

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