Ethereum breaks above $1,520 amid strong buying demand

The world’s utility crypto just set a new all-time high, as the crypto asset increased in price by over 14% for the day to burst above the $1,500 barrier.

Ether is the second most valuable crypto asset by market value after Bitcoin, and at press time, it’s valued at more than $170 billion.

Ethereum has been on a surge since 2021, on the account that the fast-rising crypto-asset set above $1,000 for 28 straight nights.

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Trading volumes on decentralized exchanges built on the Ethereum network also meant that Ether did nearly twice the amount in daily transferred value (over $19 billion) to Bitcoin throughout the month.

Also, data from Bloqport reveal that large entities are partially responsible for the bullish run, as the number of large entities holding 10,000 ETH just reached a 13-month high. Since the beginning of the year, 35 new Ether whale addresses have been created, controlling $447 million combined.

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The number of whale addresses holding 10,000 $ETH just reached a 13-month high. Since the beginning of the year, 35 new $ETH whale addresses have been created, controlling $447 million combined.

Chart: @glassnode pic.twitter.com/aQ7apgS2UX

— Bloqport (@Bloqport) January 27, 2021