ETH raised the historical high to $1,440 but could not hold on to it

Yesterday, the ether exchange rate updated the historical maximum, rising to $1440, but could not hold on and broke down to $1240. The main reason for the growth was the news about the Berlin hard fork.

Now ETH is trading at $200 below the height reached yesterday, having rolled back together with bitcoin, which broke down the $35,000 mark. Since the beginning of January, the price of ether has increased from $730 to $1,270 in just a week, for the first time approaching the record level of January 2018 at $1,400. In the middle of the month, the ether exchange rate adjusted to $900, then resumed growth. Trading volumes are also growing rapidly. Over the past day, the daily volume of transactions in the Ethereum network has exceeded the total turnover in the Bitcoin network by 28%.

To date, the capitalization of the ether is $155 billion. The growth of the ether was influenced by information about the upcoming launch of hard forks Berlin and the ongoing outflow of coins staking ETH 2.0. Hardwork aimed at improving the existing network Ethereum 1.0 to until you are deploying Ethereum 2.0.

Last week, several other cryptocurrencies showed good results: over the past seven days, Polkadot (DOT) grew by 105%, and Chainlink (LINK) – by 50%.

Since the beginning of the year, the market has remained within the “bullish trend”, despite the growing correction. Two weeks ago, the capitalization of the cryptocurrency market for the first time in history exceeded $1 trillion and continues to hold above this level.