Ethereum is close to a record high of $2,600
Ethereum is close to a record high of $2,600
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Ethereum is close to a record high of $2,600

By Federico Izzi - 22 Apr 2021

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This movement is largely driven by the record of Ethereum, which in recent hours is flying for the first time close to $2600

The day saw another crypto, a direct competitor of Ethereum, Solana, reach new all-time highs. For the first time, Solana rose to $38. Both Ethereum and Solana both rise over 12%. 

This day records over 60% of the top 100 cryptocurrencies in positive territory, with tokens linked to decentralized finance standing out. Among the first rises of the day are Maker and Compound, up over 30%. Maker flew for the first time above $4,900, an all-time record, while Compound also came within a step of last week’s all-time high of just above $600. Uniswap also did very well, up more than 20% and with prices just a step away from the all-time record set last week at just under $40. 

The day also saw a resurgence in total trading volumes, which rose to over $700 billion, an increase of about 10% from yesterday’s levels. 

Ethereum’s record-breaking day sees over $10.5 billion being traded, higher than the volume traded by bitcoin. 

For the first time since August 2018, bitcoin’s dominance falls below 50%, while Ethereum is back above 14%.

The strengthening of Ethereum’s value, which remains as the most widely used collateral in decentralized finance with the highest number ever, above 11 million ETH, sees TVL rise back to around $60 billion. Maker remains the leading project and a step away from $10 billion, the highest level ever for the protocol. It is followed by Compound and Uniswap.

Bitcoin (BTC) defends the $53,000 area

In the last 24 hours, bitcoin briefly dipped back below $52,500 and then quickly climbed back above $55,000. The $53,000 area has proved to be a bulwark defended by the bulls. 

In order to dispel any bearish fears, it is necessary for prices to return above $58,000 as soon as possible. 

Ethereum (ETH), records confirm the bullish structure

The new records of Ethereum confirm the solid bullish structure that has accompanied the trend since the end of last year. At the moment, there are no signs of danger, with prices moving further and further away from the $1,900 area, the first warning level. 

 

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".

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