Ethereum hit a new all-time high yesterday; we are only a quarter on the way to Ethereum’s journey of becoming a five-digit asset.
Ethereum has been looking very strong, and from the chart above, we can see that it just hit a new all-time high, and we also had our highest daily candle close. All these are very bullish moves; we also have a beautiful breakout pattern. We can see that the pattern is W like and we can see Ethereum breaking past the resistance and pushing higher. We are currently forming up a small red candle, but we have hit a new all-time high. This is a big deal and a small step on a bigger journey towards a five-digit Ethereum. Ethereum is an asset that will be worth more than ten thousand dollars in the future. The staking rewards in the future for holding Ethereum will be off the chart.
We could still come back down to retest the line of resistance on the breakout. If that happens, that will be a very bullish indicator for Ethereum; when the previous resistance is retested and flipped to support, the price goes higher. It is just left for us to sit back and watch how everything lines up within the next few days.
Another thing to note is that Ethereum is worth more than three hundred billion dollars. Ethereum continues to exceed our expectations and extend its lead over the other smart contract platforms. Ethereum is getting a lot of interest from institutional investors, developers so, despite the high gas fees, Ethereum still has a lot of potential. On the bright side, the gas fees are gradually getting better and affordable.
The amount of new Ethereum whale addresses holding at least ten thousand Ethereum hit a new all-time high at 1,311 addresses this past weekend during the dip. This means that while people were busy panic selling their Ethereum at $2,000, the whales came in and bought the dip; they gobbled up a bunch of Ethereum. Ethereum is now at a new all-time high for whale addresses. This is what big money does in this market; it is almost the same every time. They sell mega pumps; the big whales buy the dumps, they gobble up the dips while building positions for the long term.
Ethereum now got up to a milestone of 771,000 active addresses; this is bigger than that of January 2018, the previous bull run’s peak which saw 75,000 new addresses, and bigger than that of November 2020 739,000 addresses. That is the number of people using Ethereum every single day. It is very incredible to see that amount of adoption going on for Ethereum.
On the other hand, a European Investment Bank plans to issue digital bonds on Ethereum. They will begin to issue two-year digital bonds on the Ethereum network. They plan to start up with about a hundred million Euros in digital bonds. This is not the first time that we see banks issues out bonds on the Ethereum Network. The significance of this move is the blockchain they chose, ETHEREUM!
