Ethereum on a rampage, fast approaching $1,000

The world’s second most valuable crypto by market value, Ethereum, is on steroids, taking into account high buying interests seen by global investors, as it approaches $1,000.

Ethereum has gained more than 285% in 2020, and it seems the party for its investors is just starting amid recent price action revealing high demand for the popularly known utility crypto.

READ: Ethereum market value of $83.8 billion is now bigger than Nigerian Stock Exchange

What you should know: At the time of writing, Ethereum traded at $962.45 with a daily trading volume of $47.5 Billion. Ethereum is up 24.31% for the day.

What this means: That said, the number of Ethereum wallets in profits just hit an all-time high. Data retrieved from Glassnode, reveals Ethereum owners are obviously smiling to the bank at record levels.

READ: Bitcoin’s market value now $468 billion, bigger than GDP of Africa’s largest economy

• Ethereum Addresses in Profit (1d MA) just reached an all-time high of 49,225,333.417.
• The previous all-time high of 49,145,540.708 was observed on 03 January 2021.

Metric Description: The number of unique addresses whose funds have an average buy price lower than the current price. “Buy price” is here defined as the price at the time coins were transferred into an address. Only Externally Owned Addresses (EOAs) is being counted, contracts are excluded.

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READ: Bitcoin mining difficulty reach an all-time high

📈 #Ethereum $ETH Addresses in Profit (1d MA) just reached an ATH of 49,225,333.417

Previous ATH of 49,145,540.708 was observed on 03 January 2021

View metric:https://t.co/Q25mnqvGFw pic.twitter.com/NHNrQYkflL

— glassnode alerts (@glassnodealerts) January 4, 2021

READ: Ethereum Miners earn a staggering $1 million in 1 hour

Ethereum is a cryptocurrency designed for decentralized applications and deployment of smart contracts, which are created and operated without any fraud, interruption, control or interference from a third party.

• Ethereum 2.0 is an upgrade to the Ethereum network that helps in improving the network’s scalability.
• Through the implementation of several, efficiency, enhancements, scalability, and speed the Ethereum network becomes better without compromising its decentralization and security.

READ: 82% of Ethereum investors are in profit