Ethereum: ATH reached?

Yesterday, 19 January 2021, the price of Ethereum (ETH) reached an all-time high (ATH).

However, it did not do so on all platforms and failed to hold it, so much so that both CoinMarketCap and CoinGecko did not recognise it. 

In fact, the prices touched by the various cryptocurrencies on the various exchange platforms differ from platform to platform and are then aggregated by services such as CoinMarketCap and CoinGecko, which average them to calculate the median price.

According to these two aggregators, ETH’s historical high price still remains the one reached on 13 January 2018, to be precise $1,432.88 for ConMarketCap and $1,448.18 for CoinGecko. 

The latter price yesterday does not appear to have been reached on virtually any major platform, while $1,430 was exceeded for a very brief moment on almost all of them. 

For example, Coinbase reached $1,431.35, while Bitstamp reached $1,431.01. On Kraken, the all-time high of CoinMarketCap was exceeded, with a peak at $1,433.16, as well as on Bitfinex, where $1,434.90 was reached. 

So although the absolute high recorded by CoinGecko on 13 January 2018 was not exceeded, on some platforms yesterday the all-time high reported by CoinMarketCap was exceeded, albeit only by a minute. 

ATH for Ethereum, the comment

Bitfinex CTO Paolo Ardoino said:

“Ethereum has today reached a new all-time high. The price of Ethereum is going up in a resurgent decentralized finance (Defi) space. While the explosion of projects in Defi has caused growing pains for Ethereum, layering solutions are in the works that are helping the network to scale. The launch of Tether tokens (USDt) on such solutions, as a valuable and trusted source of liquidity, will help power Ethereum towards its full potential.

Sentiment around bitcoin remains overwhelmingly bullish. The king of crypto is the base layer for an emerging alternative financial system. Bitcoin is providing a solid foundation for a staggering array of projects, some of which will fundamentally change the nature of money by the end of the decade. Those celebrating the rise of competing chains in a rampant bull crypto market should do well to remember that they owe everything to bitcoin.”