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New absolute records for all cryptocurrencies

The rise is unstoppable, with Bitcoin and other cryptocurrencies setting new all-time highs in the last few hours: four of the top five crypto are setting new all-time highs

coin360 20210218
Source: COIN360.com

Cryptocurrencies set new records

Ethereum breaks the $1,900 mark for the first time. 

DOT 20210218

The rise of Polkadot (DOT) also continues as it surpasses $32, slipping to fourth place in the rankings, ceding third place to Cardano (ADA). Cardano regained its third position among the top capitalized coins, moving back to within a step of $1, the high of the last three years reached last Thursday. It is one of the best rises of the day, flying over 15%. 

BNB 20210218

Binance Coin (BNB), the token of one of the world’s top three centralized exchanges, also hit new all-time highs, surpassing $180, a flight that has seen the token’s value multiply fivefold since its average price in January. 

Total capitalization is close to $1.6 trillion with Bitcoin one step away from $1 trillion in capitalization. The king of cryptocurrencies retains 61% of the total market, with Ethereum holding less than 14% despite new records, below its dominance highs of January. 

Total trading volumes fall back below $550 billion, a metric to watch in the coming days as volume momentum is needed to confirm a healthy rise. 

In the last 24 hours, Bitcoin has traded over $12 billion, confirming the trend of the last four days, after a break over the weekend that saw the countervalue drop below $10 billion for the first time in 10 days. 

Ethereum, on the other hand, despite the record highs of the last few hours, recorded a real trading volume of just over $5 billion, levels about half the highs of late January. 

DeFiPulse 20210218

Decentralized finance is benefiting from the increase in the value of tokens, particularly Ethereum and Bitcoin, which has reached a new record in recent hours, with the TVL rising to $41.6 billion

Maker, the leading protocol for decentralized finance, is one step away from $7 billion. It is followed by Aave and Compound, both above $5 billion in terms of the value of collateral locked.

BTC 20210218
Bitcoin chart by Tradingview

Record high for Bitcoin (BTC)

Bitcoin’s price continues to rise and has not been fearful since January 28th. Yesterday, the day closed with a gain of 6% and a price increase of around $2,900, making it the third-best day since the beginning of the year for the increase in value. 

The price is now consolidating at $51,500, the Fibonacci extension level previously indicated as the crucial technical area. A consolidation above this level would project the price to the next target in the $56,000 area. Caution must only be exercised with regard to possible dizziness. 

Since the lows at the end of January, the price has risen by 80%.  

ETH 20210218
Ethereum chart by Tradingview

Ethereum (ETH)

Ethereum’s new record high of $1,920 confirms the bullish trend built up over the past few months and which has been in an upward channel since the end of December. From the current levels, Ethereum is moving further and further away from the dynamic support that currently passes in the $1,600 area. 

On the upside, the objective is now the psychological threshold of $2,000. Since the end of December, the price of Ethereum has gained over 240%.


Federico Izzi
Federico Izzi
Financial analyst and independent #trader – S.I.A.T. & Assob.it partner. He operates actively on stock and derivatives markets (futures and options) since 1997. A precursor of cyclic-volumetric analysis he is known for having identified the most important upward and downward movements in the financial markets of recent years. He participates annually as a speaker at the ITForum in Rimini since the 2010 edition and InvestingRoma and Napoli since the first edition of 2015. He is a guest and market expert on the "Trading Room" and "Market Driver" broadcasts of Class CNBC, Borsa Diretta.tv and on the evening news of Traderlink. Since July 2017 he is a permanent guest on LeFonti.TV, the only weekly national space dedicated to cryptocurrencies alongside the most important international experts in the field. He was interviewed as a cryptocurrency expert for Forbes Italia, Panorama, StartupItalia and DonnaModerna. He was recognized as the first Italian technical analyst to have published the first secular cyclic analysis on Bitcoin. Periodically publishes articles on ITForum News, Sole24Ore, MILANOFINANZA, TrendOnLine and Wall Street Italy. Federico Izzi is... "Zio Romolo".