The total market capitalization of Bitcoin and Ethereum covers $ 630 billion of the cryptocurrency market, totaling $ 766 billion. In 2020, both cryptocurrencies competed for the limelight, and Ethereum made waves in the market as Bitcoin finished with a new rise.
There Are Whales In Ethereum
Ethereum has surpassed $ 750 for the first time since March 2018. Success was achieved after 31 months and large holding addresses were discovered. According to Santiment, 39 ETH addresses were identified, holding more than 10,000. Such strong accumulation activity was often seen in Bitcoin, but now also with ETH holders.
The feeling of holing can be further supported by the 3-month net flow of the stock market. The drop in stock flow represents the difference in volume between exchanges where ETH trades occur, which reveals that fewer tokens enter the exchange for retail.
The Risk / Reward factor for Ethereum has been expanded earlier, and investors are taking note of the situation, especially as the crypto asset is still half way behind from its all-time high of $ 1400.
Interest in the Options Market Still High
The derivatives market is also not sleeping on Ethereum, as according to the latest data, ETH Options traders expect the price to rise another 20% and rise to $ 880 by the end of January. Professional traders continue to rely on Ether’s future potential.