• Advertise
  • Submit a Press Release
  • About Us
NewsBTC
Bitcoin & cryptocurrency news
Sensei Inu Logo
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play GamesTry
  • Win 8.88 BTCTry
  • Play Casino GamesTry
  • Play FinanceTry
No Result
View All Result
Bitcoin News
No Result
View All Result
Breaking News: BREAKING: Valkyrie Secures Green Light For Ethereum Futures ETF, Trading Launching Tomorrow
ether
Sensei Inu Logo

Ether Breaches $3,000 For The First Time In Two Weeks – Can It Regain Its November High?

Christian Encila by Christian Encila
2 years ago
in Cryptocurrency Market News, Ethereum
Reading Time: 2 mins read

Ether (ETH) appears to be reviving, as cryptocurrency expert Willy Woo recently tweeted that the cryptocurrency is positioning itself to “break upwards out of a very long term, 3.5-month bearish trend line.”

Ether, the world’s second largest cryptocurrency in terms of market capitalization, crossed the $3,000 threshold for the first time since March 8.

With the exception of a brief rise above $3,000 earlier this month and Tuesday’s significant upward move, the token that powers Ethereum’s blockchain has spent the majority of the month trading between the $2,400 to $2,800 zone.

In November of last year, the price of ether in US dollars reached new highs, over $4,800. Similar to Bitcoin (BTC), the price of ETH increased in 2021, but for very different reasons.

Ether Sparked By Tech Advancements

Ethereum, for example, made headlines when a digital art piece was sold for more than 38,000 ETH – or nearly $70 million – as the world’s most expensive NFT.

Unlike Bitcoin, whose price growth was spurred by the initial public offering of the world’s largest crypto exchange Coinbase, ether’s rise was fueled by technological advancements that sparked widespread excitement among traders.

Related Story | Bitcoin Breaks Past The $40,000 Barrier Again – Can It Sustain The Momentum?

At publication time, ETH was trading at roughly $3,012 per coin, a nearly 6% rally over the previous 24 hours.

Ether has also broken out in relation to bitcoin, the world’s most valuable cryptocurrency by market capitalization, which is currently up about 4% on the day.

Bitcoin is currently trading at $42,935.85, up 8.4% in the last seven days, according to figures by Coingecko, Tuesday.

ETH total market cap at $360.48 billion on the daily chart | Source: TradingView.com

Whales Active This Week

Coincidentally, whales were also active this week, as their transactions increased across the board.

This was the most substantial increase in their activity since February 24, reaching an all-time high of $8.8 billion in a single day. Indeed, this was shortly before Russia launched its invasion of Ukraine.

On the contrary, ordinary investors have remained idle as usual, holding 58.21 percent of Ethereum’s 120 million ETH supply. Since the market crisis, their daily volume contribution has been less than 10%.

ETH Outflows Up

Meanwhile, ETH exchange outflows increased significantly on Friday, reaching more than 180,000, according to statistics from IntoTheBlock, a crypto data analytics company.

“The last time this volume of ETH exited exchanges was in October 2021, immediately preceding a 15% price surge within 10 days,” the company tweeted.

Related Story | Fiat – Not Crypto – Still The Top Choice For Financial Crimes, US Treasury Says

Featured image from NameCoinNews, chart from TradingView.com
Tags: bitcoinbtcETHEtherEtherumwhales
Tweet123Share196ShareSend
Christian Encila

Christian Encila

Christian is a former journalist and editor, as well as a layout design consultant, who previously held leadership positions at Sun.Star News Philippines and Ang Peryodiko News, a local daily in Manitoba, Canada. Alongside his passion for writing, he is an avid fan of cryptocurrency and works tirelessly throughout the week. When he's not on his computer, you can find him tinkering with his old motorbike as a grease monkey, or lounging on the patio hammock while pondering about artificial intelligence and whether he'll ever understand his cat's thoughts and calmness.

Related Posts

Cardano

Cardano To Shed Its Gains? Profit-Taking Spikes To High Levels

50 mins ago
Bitcoin

Bitcoin And Gold Poised For Growth Amidst US Fiscal Troubles, Top Macro Investor Says

5 hours ago
New Generation of ASIC Miners released by ASICRUN

New Generation of ASIC Miners released by ASICRUN

6 hours ago
Crypto altcoins watchlist October

Crypto Watchlist For October: Altcoins To Keep On Your Radar

6 hours ago
Solana

Solana Outperforms 2 Top Altcoins – Its Ripple Effect On Prices

9 hours ago
Crypto tokens unlocked

Brace For Impact As $200 Million In Crypto Is Being Unlocked In October

19 hours ago

Premium Partners

Play Finance

Top Casinos

BitStarz

BitStarz

Review · Visit
Punt Casino

Punt Casino

Review · Visit
Trust Dice

Trust Dice

Review · Visit
mBit

mBit

Review · Visit

Press Releases

  • Traders Union Analysts Provide In-Depth ActiveTrades Review

    4 hours ago
  • Sportsbet.io Secures New Influencers for Ongoing Campaign

    4 hours ago
  • Meme Coins Won’t Make You Rich, But This Might

    6 hours ago
  • Everlodge, THORChain, and The Graph: Crypto Experts Predict...

    6 hours ago
  • Tradecurve Markets Set to Skyrocket 4,000% as Cosmos Hits...

    6 hours ago

About Us

NewsBTC is a cryptocurrency news service that covers bitcoin news today, technical analysis & forecasts for bitcoin price and other altcoins. Here at NewsBTC, we are dedicated to enlightening everyone about bitcoin and other cryptocurrencies.

We cover BTC news related to bitcoin exchanges, bitcoin mining and price forecasts for various cryptocurrencies.

Cryptocurrency news

  • Bitcoin
  • Ethereum
  • Ripple
  • Chainlink
  • Cardano
  • EOS
  • Tezos

Technical Analysis

  • Bitcoin (BTC)
  • Ethereum (ETH)
  • Ripple (XRP)
  • Chainlink (LINK)
  • Cardano (ADA)
  • Tezos (XTZ)

Company

  • Advertising
  • Comments Policy
  • Privacy Center
  • Sitemap
  • About Us
  • Contact

© 2023 NewsBTC. All Rights Reserved.

  • News
    • Bitcoin
    • Ethereum
    • Cardano
    • Dogecoin
    • Ripple
    • DeFi
    • NFT
    • Sponsored
    • Press Releases
    • Research
    • Gambling
      • Crypto Casinos
      • Real Money Casinos
    • Casinos not on Gamstop
  • Analysis
    • Bitcoin (BTC)
    • Ethereum (ETH)
    • Cardano (ADA)
    • Chainlink (LINK)
    • Litecoin (LTC)
    • Tezos (XTZ)
    • Zcash (ZEC)
    • EOS
    • YearnFinance (YFI)
  • Learn
    • Trading Course
  • Directory
    • Crypto Businesses
    • Bitcoin Brokers
    • Casinos
    • Sportsbooks
    • Categories
  • Events
  • Play Games
  • Win 8.88 BTC
  • Play Casino Games
  • Play Finance

© 2023 NewsBTC. All Rights Reserved.

This website uses cookies. By continuing to use this website you are giving consent to cookies being used. Visit our Privacy Center or Cookie Policy.