On January 19, Ether, the largest Altcoin by market cap, finally hit new all-time highs against the U.S. dollar.
Data from Cointelegraph Markets and TradingView revealed that during Tuesday trading, ETH/USD beat its previous high, passing $1,428 on Bitstamp.
As Ether gained 15 percent on the day, with year-to-date returns at nearly 100 percent, the accomplishment, which resets a price ceiling in place since January 13, 2018, came.
Within the context of a broader Altcoin resurgence that started to take form earlier in January, the Altcoin gained from interest in decentralized finance trading built around the Ethereum network.
“#Ethereum $1,400. If this continues running according to Fibonacci, we might hit $1,600,” Cointelegraph Markets analyst Michaël van de Poppe summarized to Twitter followers on Tuesday.
Van de Poppe had previously predicted that, in the short term, Fibonacci levels could take ETH/USD to as high as $2,600.
Ryan Watkins, a researcher at Messari, added, “Ethereum’s daily transaction volume is going parabolic,” “It now settles $12 billion in transactions daily – $3 billion more than Bitcoin. Imagine not being bullish $ETH.”
