Key Ethereum price metric signals pro traders are skeptical about $2K ETH
Cointelegraph
Published Feb 18, 2021 04:22PM ET
Updated Feb 18, 2021 06:20PM ET
In the last 24-hours, Ether (ETH) rallied above $1,900 to a new all-time high and this breakout reflects a strong 45% gain for just February alone. Aside from Ether following Bitcoin's (BTC) bullish momentum, the move has been partially fueled by the news that BlackRock (NYSE:BLK) is considering future cryptocurrency investments and Microstrategy (NASDAQ:MSTR)'s $900 million convertible notes offer to buy more Bitcoin.
The growing popularity of decentralized exchanges (DEX) has also been a huge booster of Ether price and earlier this week Uniswap reached $100 billion in cumulative volume. This signals just how relevant the Ethereum-based DeFi ecosystem has become.
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Written By: Cointelegraph
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