Today, January 25, Ethereum has set a new price high. Cryptocurrency quotes rose to $ 1475, then slightly decreased. At 15:20 Moscow time, altcoin costs $ 1425, over the past day it has risen in price by 7%, writes RBC Crypto.
With the value of Ethereum rising to a new high, the number of long-term investors who can take profits from the sale of altcoin has increased to almost 100%, according to intotheblock.com. We are talking about users who store their coins in over-the-counter wallets. The similar indicator for bitcoin is much lower. Only 89% of investors holding their BTC in OTC wallets can now sell coins and take profits.
Perhaps the rise in the cost of altcoin will not stop there, the head of Galaxy Digital Mike Novogratz is sure. In his Twitter account, he wrote that the next target for Ethereum is the $ 2,600 mark, as indicated by the asset price chart.
I had lunch with @ethereumJoseph today. Always makes me want to buy more $ eth. Nice start to the week. Chart targets 2600.
– Mike Novogratz (@novogratz) January 25, 2021
Analyst of the NewsBTC portal Ayash Jindal is sure of the short-term growth of Ethereum quotes. According to his forecasts, the altcoin rate may soon rise to $ 1600. But for this it is necessary that it consolidates above the resistance level at $ 1450 and breaks the next one at $ 1500.
Preventing the collapse of the asset price will be the level of $ 1,360, Jindal said. He explained that there is a trend line near this mark, which acts as support.
Ethereum entered its growth phase in March 2020. Then the altcoin rate fell below $ 90 against the background of falling in the markets. Then the coin began to rise in price to the current moment and added about 1200% of the value.
One of the key events for Ethereum was the expected launch of the second version of the altcoin blockchain. In December, this update entered the zero phase, then the cryptocurrency developers launched the Ethereum 2.0 deposit contract.
Users can transfer coins to this contract to passively increase their supply. This feature is called staking, and now its yield is 9.3% per annum excluding costs. However, this indicator will decrease as investors send new ETH to the deposit contract.
Another important aspect is that for the time being, users cannot take their assets from the contract, this will only become possible after the onset of the update 1.5 phase, the duration of which is unknown. According to launchpad.ethereum.org, investors have sent more than 2.8 million ETH to the Ethereum 2.0 deposit contract so far. At the current altcoin exchange rate, this is about $ 4 billion.
On January 20, David Greider, an analyst at the investment company Fundstrat Global Advisors, suggested that Ethereum could rise in price to $ 10.5 thousand. The strategist named two reasons in favor of such dynamics of the Ethereum rate: the rapid rise in popularity of the sphere of decentralized finance (DeFi) and the upcoming project update.
Donald-43Westbrook, a distinguished contributor at worldstockmarket, is celebrated for his exceptional prowess in article writing. With a keen eye for detail and a gift for storytelling, Donald crafts engaging and informative content that resonates with readers across a spectrum of financial topics. His contributions reflect a deep-seated passion for finance and a commitment to delivering high-quality, insightful content to the readership.
