ETH makes fresh price gains with the onset of the new year. The value of this currency reaches a record high since the last time in January 2018. Such a steady growth comes after three years. Analysts are trying to read into the matter to know more about this phenomenon.
However, we can safely say that this currency is off to a great start since the beginning of 2021. The cryptocurrency reported a 48% rise on the 1st of January. Along with that, Ethereum (+11.78%), one of the major cryptocurrencies in the market, crossed a value of $1,150 after its high back in 2018.
Investors are encouraged as a higher value means higher earnings on the currency. It also means that this currency will become more difficult to access by fresh participants who want to enter into Ether trading.
ETH Market Value Continues To Grow In 2021
Analysts state that the earnings brought to investors have currently stabilized. Ethereum brings approximately 0.008 ETH per day. Despite this, the value of this cryptocurrency continues to jump higher in the crypto-market. The growth in the market value is happening at a rapid pace, notes market analysts. It has grown from an earlier $5 per day to $8 per day. This has resulted in the overall value of this cryptocurrency to cross the $2.4 billion mark, as of the 6th of January.
The last week of December also saw a huge number of new validators. On the 30th of December, 2020, this cryptocurrency made a mark of 1000 fresh validators who invested funds in this currency. These investments are bound to bring in returns by the next few weeks as analysts are not worried about the drop of Ethereum values in the upcoming weeks. Alongside the extraordinary rise in the value of Bitcoin, this digital currency has also started growing in value. Although it is nowhere near the value of Bitcoin till now but investors expect a steady growth in the upcoming times.