Ethereum reached a new historical record of more than $ 1,900, as the world’s second largest digital asset marches relentlessly toward the $ 2,000 target.
After a week of largely lateral trading, the price of Ethereum finally blew up during Thursday’s Asian trading session.
According to Tradingview charts quoting Coinbase prices, the ETH price hit its record $ 1,922 a few hours ago. Since then, they have retreated slightly, trading at $ 1,895 at press time.
The movement marks a gain of 8.5% on the day, with ETH and BTC reaching new historical highs. Bitcoin’s ATH came at the same time when it reached $ 52,675 according to Binance’s prices on Tradingview.
Ethereum’s earnings have been greater than Bitcoin’s over the past 24 hours, as it hasn’t changed much since reaching $ 1,800 on February 9.
The movement marks a gain of 8.5% on the day, with ETH and BTC reaching new highs. Bitcoin’s ATH came at the same time when it reached $ 52,675 according to Binance’s prices on Tradingview.
Ethereum’s earnings have been bigger than Bitcoin in the last 24 hours, as it hasn’t changed much since reaching $ 1,800 on February 9.
Memes, NFTs, and Small Caps with absolutely no fundamentals ripping to new highs
… What a time to be alive
– Josh Rager 📈 (@Rager) February 18, 2021
“BTC over $ 50k
ETH above $ 1900
Memes, NFTs and small caps with absolutely no foundation reaching new spikes
… What time to be alive ”
Ethereum’s path to $ 2,000
The price of Ethereum is now only 5.2% of the $ 2,000 psychological level and it looks like a long time ago that the cryptocurrency broke the $ 1,000 barrier in January 2018.
2018 saw Ethereum prices drop by nearly 95%, hitting bottom at around $ 80 in December of that year. He spent the next 18 months with minimum values between $ 100 and $ 270, with a brief outbreak above that in June 2019.
Ethereum didn’t really come out of its long bear market until late July 2020, when it hit $ 400 for the first time in two years. That year’s DeFi boom further increased demand for ETH, as did the highly anticipated launch of the ETH 2.0 Beacon Chain on December 1. Staking was finally activated by Coinbase, which may have driven the recent momentum.
At the end of the year, ETH was trading at around $ 700. In the eight weeks since then, prices have risen 170% from today’s levels.
Historical highs in the crypto market
The two maximums for the two main assets took total market capitalization to a new peak of $ 1.62 trillion, according to Coingecko. It has more than doubled since the beginning of the year and is now almost double the previous 2018 peak of $ 830 billion.
Other major drivers on the day of the new highs include Cardano pulling out 12% to reach $ 0.94 as his “Mary” update approaches, Binance Coin rising 32% on the day to reach $ 170 and Litecoin valuing 12% to arrive to $ 235.
Stellar, Uniswap, Aave, Monero and NEM made double-digit gains today.