Ethereum Crosses $3,500 for the First Time since 15 May 2021

Ethereum, the world’s second most valuable digital currency, spiked by nearly 5% today and crossed the price level of $3,500 for the first time since 15 May 2021. ETH started 2021 at a price level of approximately $740.

The latest data posted by Coinmarketcap shows that Ethereum now has a market cap of $412 billion. The total crypto market dominance of ETH currently stands at around 19.4%. Within the last 4 weeks, the price of ETH jumped by more than 50%.

“Ethereum has surpassed $3,500 for the first time since mid-May. One year ago, the asset's price stood at $442. We've discovered that the ratio of ETH's top 10 non-exchange whales is now 3.12 times as much ETH as the top 10 exchange whales. A great sign,” the on-chain Analytics Analytics Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Analytics may be defined as the detection, analysis, and relay of consequential patterns in data. Analytics also seeks to explain or accurately reflect the relationship between data and effective decision making. In the trading space, analytics are applied in a predictive manner in an attempt to more accurately forecast the price. This predictive model of analytics generally involves the analysis of historical price patterns that are used in an attempt to determine certain price outcomes. Analyt Read this Term firm, Santiment mentioned on Twitter.

Yesterday, Finance Magnates reported about the latest jump in Ethereum addresses with non-zero balances. According to Glassnode, 60.7 million ETH addresses now have active balances, the highest level on record. ETH investment products attracted $17 million worth of institutional inflows last week, more than any other cryptocurrency.

On-Chain Activity of Ethereum

Commenting on the latest price movement of Ethereum and its overall network activity, Alexandra Clark, Sales Trader at GlobalBlock, said: “Ethereum’s on-chain activity is bullish, indicating the second leg of the bull run is close. The recent spike in NFT activity has prompted a rise in transaction volume and active addresses on the ETH network, as well as a deflationary supply."

"Owing to NFT activity, Ethereum fees and the amount of ETH being burnt have increased significantly meaning, at times, more ETH is being burnt than issued. As a result, for the first time ever, Ethereum’s daily issuance fell below that of Bitcoin Bitcoin While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that While some may still be wondering what is Bitcoin, who created Bitcoin, or how does Bitcoin work, one thing is certain: Bitcoin has changed the world.No one can remain indifferent to this revolutionary, decentralized, digital asset nor to its blockchain technology.In fact, we’ve gone a long way ever since a Florida resident Laszlo Hanyecz made BTC’s first official commercial transaction with a real company by trading 10,000 Bitcoins for 2 pizzas at his local Papa John’s.One could now argue that Read this Term. After surpassing $3,400, a psychologically important level, Ethereum has one last resistance barrier at the $4,078 level, where over 1.5 million addresses purchased Ether before it rallies to a new all-time high,” Clark added.