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Home Cryptocurrency news

Coinbase Premium Showing Fiat Inflow Into Ethereum May Spark Massive Rally

Tony Spilotro by Tony Spilotro
1 year ago
in Cryptocurrency news, Bitcoin, Ethereum
Reading Time: 3min read
ethereum coinbase fiat crypto inflow binance tether
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In recent weeks, the one factor that prevented analysts from considering a new bull run was starting across cryptocurrency assets like Bitcoin and Ethereum,  was a lack of new money entering the market.

However, a premium on Ethereum prices on Coinbase suggests that fiat inflow has begun pouring into the exchange, and could cause an explosive rally in the weeks ahead.

Ethereum Trades at a Premium on Coinbase Over Tether Exchanges

There’s been no denying that all systems appear to be ready to go for the next crypto bull run. Bitcoin is showing a number of bullish factors, and Ethereum is already doubled in value year to date.

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However, many top crypto analysts and whales across the industry have been skeptical of the recent bull rally, claiming that no new money had been entering the crypto market for some time.

Related Reading | Surging Ethereum Volume While Price Skyrockets Is Major Bullish Sign 

But as the rally pushed prices higher and higher, it may have incited an extreme case of FOMO across retail investors.

The surge in interest surrounding cryptocurrencies like Ethereum once again is causing the number two cryptocurrency by market cap to trade at a premium on Coinbase over other platforms.

Coinbase is among the main fiat gateways that crypto investors use to enter the market. From there, oftentimes they send their cryptocurrencies to other platforms to trade, but Coinbase remains the king of retail crypto buying.

Because Coinbase is a fiat gateway, when fiat begins pouring in, the price of Ethereum, Bitcoin, or other crypto assets begins to trade at a premium over exchanges that feature these crypto-assets and altcoins paired with Tether – a dollar-pegged stablecoin.

The rising demand for crypto assets trading against the dollar creates a divergence between different platforms.

ethereum price chart coinbase fiat gateway inflow binance tether

Will the Return of Fiat Inflow Spark the Next Major Bull Run?

At the start of the recent Ethereum rally, prices can be seen pretty much in parity across Coinbase and Binance – a USDT paired exchange.

When the first major peak arrives, the premium begins tipping in favor of Coinbase. By the time the second peak rolls around, the premium has risen to over $1.50 per ETH token.

At the highest point of the move currently – which may or may not be the top of the rally – the premium remains but has dwindled slightly back to just a $1 discrepancy.

Related Reading | What’s Really Triggering This Epic Ethereum Rally? 3 Key Factors Behind Upsurge 

Whether this suggests the buying momentum is beginning to wane, or if its just another pit stop before a stronger move higher, is anyone’s guess.

What is for certain, is that Ethereum has been trading at a premium on Coinbase, and if it really does signify the return of fiat inflow to the crypto market, it could be the spark that ignites the next major bull run.

Tags: BinancebitcoincoinbasecryptoethereumfiatPremiumtetherusd
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Tony Spilotro

Tony Spilotro

I'm Tony Spilotro. Behind the pseudonym, I'm a digital media executive and global remote work leader with a decade of content experience and excellent. Here, I explore my newfound passions pertaining to privacy, finance, economics, politics, cryptography, property rights, and other libertarian-esque views. I am a Bitcoin evangelist, maximalist, and educator whenever I can be, helping to spread its message of freedom from government control, monetary policy mismanagement, and passing the buck - literally – to future generations. My journey from a curious retail crypto investor to a serious Bitcoin advocate, trader, and technical analyst is an unusual one, but life-changing nonetheless and has become less about money and more about a long-overdue revolution. While a firm believer in the laws governing math and science, I am profoundly fascinated by the impact of astrology and astronomy including moon and solar cycles and planetary alignment and their ability to influence and potentially predict markets. It hasn't yet clicked for me as to how to put anything to use, but I consider it my current rabbit hole I can't yet dig out of. My perspective of growing up alongside the internet, the dot com era, the Great Recession, and roots in video games collecting coins and rare items caused Bitcoin to immediately make sense to me. Through all of these lenses, I seek to produce content that is educational and entertaining, and I thank you sincerely for taking the time to read what I have to say. Please follow me on Twitter and feel free to drop me a line if you would like to work together.

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