Ethereum Creeps on All-Time High After Smashing Through $1000 Threshold While Gas Fees Soar; BTC Hit Another All-Time High
Good morning everyone!
Yesterday did not see me complete my normal update due to a doctor's appointment, but I wanted to touch on the big news from yesterday really quick.
Both the number 1 and number 2 cryptocurrencies are on their way to lunar landings, as BTC reaches all-time-high again and ETH gets very close to doing the same:
Ethereum
On January 4, Ethereum's ETH smashed through the long, long awaited psychological price barrier of $1000 per token. This brought with another milestone, with market cap exceeding 100,000,000,000.
Since then, ETH has broken through the $1100 price point, now just around $100 shy from its very brief all-time-high during the 2017 bull run.
The market cap has also gained another 26 billion in a little more than 24 hours.
Of course, this means that other Ethereum tokens have benefitted as a result of Ether's astronomical rise.
Unfortunately, there is a downside to this meteoric rise -- gas fees and congested networks.
Bitcoin
Bitcoin smashed through $34000 and $35000 to reach a new all-time-high before settling back at around the $34K mark.
Bitcoin's market cap now exceeds half a trillion dollars and as a project, it is more valuable than Wal-Mart. Volatility, on the other hand, will still be a feature that will make thousands for some and cause losses for others -- but that's part of the risk and allure that we all love so much.
Stellar Lumens
One of the breakout winners for the day has been Stellar Lumens, which has risen to $0.25, a soaring increase in value of around 55%. Those who held Stellar in large quantities certainly cleaned up and continue to.
AAVE
AAVE suffered from the high-gas fees mentioned in tandem with Ether's soaring rise, but the AAVE token itself smashed through the three-digit threshold and is now trading in excess of $115.00, making it one of the biggest winners from January 5.
That's all for this early-AM post. I will return with a mid-afternoon update on the markets!
Good luck and happy profits!
