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Ethereum (ETH) Hit a New Record of $2,000

-Ether hit a new record of over $2,034.
-The market capitalization of Ether is hitting over $230.7 billion.
-Grayscale Ethereum Trust (ETHE) has added nearly 230,000 ETH.

Ether hit a new record of over $2,034, with the market capitalization of Ether hitting over $230.7 billion.

Ether, as the native digital currency of the Ethereum blockchain, continues its year-long bull run. While ether hitting $2,000, there are numerous milestones reached hours before by larger cryptocurrency bitcoin hitting a $1 trillion market value for the first time.

ETH Tops $2000, Grayscale Ethereum Trust (ETHE) Hits $6 Billion AUM

Ethereum which is the second-largest cryptocurrency by market capitalization has reached its new record. In addition to this, the Grayscale Ethereum Trust (ETHE) has aggressively added Ethereum (ETH) since the start of February 2021.

Moreover, the Trust has added nearly 230,000 ETH investing more than $400 million this month.

With this, the net assets under management of the ETHE have crossed $6 billion for the very first time. Thus, ETHE alone makes over 14% of Grayscale’s total $42 billion worth of assets under management (AUM).

More so, the data from Santiment shows that Ethereum (ETH) whale addresses with over 10K ETH have risen over 1200 in numbers.

According to CoinGecko, the ETH price is at $2019, at the time of writing.

ETH/USDT Price Chart 1-Month (Source: TradingView)

The above chart shows great performance of ETH over the past week. Moreover, the ETH price is over 17.8% in the last 7 days. If this trend continues, ETH will run along with the bulls, overtaking its $2040 resistance level and climb higher.

Conversely, if the investors turn against the crypto, the bears might take over and dethrone ETH from its uptrend position. In simple terms, the price of ETH might plummet to almost $1924, a bearish signal.

Meanwhile, the Relative Strength Index (RSI) is already at its overbought state. Furthermore, traders need to be careful since ETH might trigger a major price reversal.

The News Crypto Staff

The News Crypto is a group of crypto journalists writing about the latest happenings in the crypto and blockchain industry.

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