Good morning HODLers!
It is turning out to be a very exciting morning today February 3rd 2021, as Ethereum is for the first time consistently surpassing its All Time High! We currently trade in a range of $1520 to $1570.
Let's see what are the main forces that are pushing Ethereum's value beyond its all-time highs:
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The amount of Ethereum reserves in exchanges has plummeted in the last few days, while demand is keeping growing.
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Approximately 3% of the Ethereum circulating supply is locked in Ethereum 2.0 for at least one more year.
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Institutional investors are buying large volumes of ETH. On monday Grayscale announced that its Ethereum Trust is again opened to accredited investors.
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The Ethereum narrative is changing and now. Ethereum is considered a store of value now, like Bitcoin.
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Ethereum is the most used blockchain ever, more than 90% of developers create Dapps on the Ethereum blockchain. Therefore Ethereum can take advantage of a huge network effect.
Do you guys think there are other reasons that are pushing Ethereum's price up?
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