“Ethereum goes to $ 2600”. But almost all ETH holders have already made money on it
Due to the rise in the altcoin rate to a new maximum, the number of long-term investors who can sell the asset and take profit has approached 100%. Experts are confident that cryptocurrency will only continue to rise in price.
Ethereum set a new price high on January 25th. Cryptocurrency quotes rose to $ 1475, then slightly decreased. Over the past 24 hours, it has risen in price by 7%, according to data from coinmarketcap.com.
With the value of Ethereum rising to a new high, the number of long-term investors who can take profits from the sale of the altcoin has increased to almost 100%, according to intotheblock.com. We are talking about users who store their coins in over-the-counter wallets. The similar indicator for bitcoin is much lower. Only 89% of investors holding their BTC in OTC wallets can now sell coins and take profits.
Perhaps the rise in the cost of altcoin will not stop there, the head of Galaxy Digital Mike Novogratz is sure. In his Twitter account, he wrote that the next target for Ethereum is the $ 2600 mark, as indicated by the asset price chart.
Analyst of the NewsBTC portal Ayash Jindal is confident about the short-term growth of Ethereum quotes. According to his forecasts, the altcoin rate may soon rise to $ 1600. But for this it is necessary that it consolidates above the resistance level at $ 1450 and breaks the next one at $ 1500.
Preventing the collapse of the asset price will be the level of $ 1,360, Jindal said. He explained that there is a trend line near this mark, which acts as support.
Ethereum entered its growth phase in March 2020. Then the altcoin rate against the background of falling in the markets fell below $ 90. Then the coin began to rise in price to the current moment and added about 1200% of the value.
One of the key events for Ethereum was the expected launch of the second version of the altcoin blockchain. In December, this update entered the zero phase, then the cryptocurrency developers launched the Ethereum 2.0 deposit contract.
Users can transfer coins to this contract to passively increase their supply. This feature is called staking, and now its yield is 9.3% per annum excluding costs. However, this indicator will decrease as investors send new ETH to the deposit contract.
Another important aspect is that for now, users cannot take their assets from the contract, this will only become possible after the onset of the update 1.5 phase, the duration of which is unknown. According to launchpad.ethereum.org, investors have sent over 2.8 million ETH to the Ethereum 2.0 deposit contract so far. At the current altcoin rate, this is about $ 4 billion.
On January 20, David Greider, an analyst at the investment company Fundstrat Global Advisors, suggested that Ethereum could rise in price to $ 10.5 thousand. The strategist named two reasons in favor of such dynamics of the Ethereum rate: the rapid growth in popularity of the decentralized finance (DeFi) sphere and the upcoming project update.