{"id":35815,"date":"2021-02-03T19:03:03","date_gmt":"2021-02-03T17:03:03","guid":{"rendered":"https:\/\/forklog.com\/en\/?p=35815"},"modified":"2025-08-29T03:07:41","modified_gmt":"2025-08-29T00:07:41","slug":"ethereum-price-hits-new-high-above-1600","status":"publish","type":"post","link":"https:\/\/u1f987.com\/en\/ethereum-price-hits-new-high-above-1600\/","title":{"rendered":"Ethereum price hits new high above $1,600"},"content":{"rendered":"

On Wednesday, February 3, the price of the second-largest cryptocurrency by market capitalisation breached the $1,600 level, setting a new price record.<\/p>\n

\"Ethereum<\/p>\n

Hourly ETH\/USD chart on Bitstamp. Data: TradingView.<\/p>\n<\/div>\n

This occurred amid relatively low trading volumes.<\/p>\n

The asset\u2019s market capitalisation surpassed $180 billion, and the dominance index rose to 16.1% (according to CoinGecko<\/a>).<\/p>\n

\"Ethereum<\/p>\n

Data: CoinGecko.<\/p>\n<\/div>\n

The $1,500 milestone was surpassed<\/a> on February 2.<\/p>\n

In January, Spencer Nunn, an investor at Variant Ventures, listed 11 metrics that, in his view, pointed to the continuation of the rally<\/a> for the cryptocurrency. At that time, January 19, the price surpassed the $1,400<\/a> level.<\/p>\n

Analysts at Glassnode previously noted that the upside pressure on Ethereum is being created by large holders of the coin<\/a>.<\/p>\n

When the cryptocurrency\u2019s price early in the year breached the $1,300 mark<\/a>, DTAP Capital founder Dan Tapiero said that its further rise would attract institutional investors<\/a>. He referred to plans by Standard Chartered and the financial services provider Northern Trust to launch a custodial service<\/a> supporting the two largest-cap cryptocurrencies.<\/p>\n

\n

\u201cIf Northern Trust stores Bitcoin and Ethereum, it means there are buyers for both assets,\u201d Mr Tapiero stressed at the time.<\/p>\n<\/blockquote>\n

However, according to Robert Gutmann, CEO of the New York Digital Investment Group (NYDIG), large investors are interested exclusively in Bitcoin<\/a>.<\/p>\n

As noted, on February 8, 2021, CME began trading Ethereum futures<\/a>.<\/p>\n

Subscribe to ForkLog news on Twitter<\/a>!<\/p>\n","protected":false},"excerpt":{"rendered":"

On Wednesday, February 3, the price of the second-largest cryptocurrency by market capitalisation breached the $1,600 level, setting a new price record.<\/p>\n","protected":false},"author":1,"featured_media":35816,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"select":"1","news_style_id":"1","cryptorium_level":"","_short_excerpt_text":"","creation_source":"","_metatest_mainpost_news_update":false,"footnotes":""},"categories":[3],"tags":[46],"class_list":["post-35815","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news-and-analysis","tag-ethereum"],"aioseo_notices":[],"amp_enabled":true,"views":"20","promo_type":"1","layout_type":"1","short_excerpt":"","is_update":"","_links":{"self":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35815","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/comments?post=35815"}],"version-history":[{"count":1,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35815\/revisions"}],"predecessor-version":[{"id":35817,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/posts\/35815\/revisions\/35817"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media\/35816"}],"wp:attachment":[{"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/media?parent=35815"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/categories?post=35815"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/u1f987.com\/en\/wp-json\/wp\/v2\/tags?post=35815"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}