Posted 5 months ago | by @devadmin
Ethereum, the largest altcoin by market cap, has finally reached new all-time highs in USD today on Jan. 19th.
According to data from Coinmarket Cap and TradingView ETH/USD has beat its previous all-time high during Tuesday trading, passing $1,428.
This means that Ethereum is now getting ready to enter into price discovery mode similar to Bitcoin after busting through its 2018 price ceiling.
At the same time, Ethereum has now surpassed Bitcoin in daily transaction volume by 28% at $12 billion in transactions daily – $3 billion more than Bitcoin, Messari’s Ryan Watkins pointed out on Twitter.
“Ethereum’s daily transaction volume is going parabolic,” Ryan Watkins, a researcher at Messari, tweeted.
“It now settles $12 billion in transactions daily – $3 billion more than Bitcoin. Imagine not being bullish $ETH.”
Ether’s market cap is just 21% of Bitcoin’s market cap according to Messari. However, Messari estimates that Ethereum’s ecosystem including DEFI is worth $212 billion which is equal to 31% of Bitcoin’s market cap.
Ether is up well over 1000% since its initial public sale of ETH in 2015, according to Messari. Tyler Winklevoss, co-founder of the cryptocurrency exchange Gemini, recently stated on Twitter that ETH is by far one of the most “underpriced” cryptocurrencies.
You can watch Bitboy Crypto’s live stream on Ethereum reaching its all-time high below.
Ethereum is currently trading at [FIAT: $1,416.61] UP +15% in the last 24 hours according to Coingecko at the time of this report.