Ethereum: 3 bullish signs to watch after the new ETH record
The Ether (ETH) finally managed to surpass its all-time record, breaking the $1,450 mark last night. Several other „bullish“ signs show that the Ethereum network and its assets have been in great shape in recent weeks …
The ETH course had been running Bitcoin System alongside his ATH for several days now, without crossing it. However, ETH has just surpassed its record, jumping above 1,450 dollars this morning :
Ethereum ETH ATH record
For this reason, it rose sharply in the space of a day, increasing by 20%. This also corresponds to a jump of +15% over the space of a week. This morning, ETH’s capitalisation thus amounts to 162 billion dollars.
Bullish signs for the ETH course?
This new record for the ETH was announced in the past few weeks, so it is not entirely a surprise. However, it would appear that the fundamentals for the Altcoin are rather solid, and this rise could take it to new heights. At least that’s the opinion of the IntoTheBlock company, which published an analysis over the weekend.
According to the latter, the ETH share price is solidly supported by three factors: on the one hand the adoption of the Ethereum network and its growth, on the other hand the DeFi sector which exploded in 2020, and finally the demand which faces a limited supply. The most telling proof of this progression is the number of transactions, which has soared in recent months:
Record ETH Ethereum transactions
Demand for ETH is also catching up with available supply, according to the analysis:
„During the month, we have seen large flows of ethers being withdrawn from the centralised exchanges. …] So we could soon face a liquidity crisis as demand continues to grow. »