Ethereum is becoming an asset to hold on to and earn from as its price continues to rise, hitting a new peak during the Asian trading on Monday morning.
Ethereum prices reached their highest ever level during the Asian trading session on Monday morning, just shy of $1,500. Some of the industry’s top players have made greater price predictions.
A few hours earlier, multiple markets, including Binance, registered their peak ETH rates at about $1,475, but the commodity has since declined marginally, selling at $1,435 at the time of publishing, marking a 24-hour gain of 8 percent.
Over the last seven days, ETH has risen by 15.5 percent, while Bitcoin has declined by 7 percent from the same time last week. At least for the time being, Ethereum has finally decoupled from his big brother and is actually gaining on it in terms of Satoshi.
$4 Billion ETH Staked
At current prices, there is now over $4 billion in staked ETH, locked up for at least another year in the Beacon Chain deposit contract. The ETH 2.0 Launchpad reports this as 2.82 million ETH which is almost 2.5% of the entire supply.
This doesn’t sound much, but it should be noted that this ETH has been locked up for over a year now to secure the new blockchain. It will only be accessible again if phase 1.5 merges ETH 1 and ETH 2.
Currently, profits are nearly 9.3 percent of APY, which for those concerned is an incredible return paired with the fact that the commodity has risen by 140 percent since Beacon Chain was opened less than two months ago.
The stake is just one part of the market for Ethereum. DeFi and stablecoin usage are a few more, and there is also the fact that there are far more developers working with Ethereum than any of its rivals.
Institutional investors have already noted this, and the demand is expected to grow in 2021, leading us to price forecasts.
Where Next For Ethereum Prices?
Industry expert Mike Novogratz tweeted a lunch meet up with Ethereum co-founder Joseph Lubin, adding that prices could go to $2,600.
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
As normal, however, the prediction triggered a tired old crypto tribalism tirade from some sort or another of maximalists.
With the latest trend in favour of Ethereum, there is no doubt that the commodity will report higher values this year, how high it remains to be seen.
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