$ETH Breaks $1500 Four Days After Grayscale Ethereum Trust Reopens

On Tuesday (February 2), Ethereum (ETH) broke through the $1500 resistance level to set a new all-time high (ATH); interestingly, this came just four days after Grayscale Ethereum Trust resumed the private placement of its shares.

According to data by TradingView, on crypto exchange Bitstamp, at 19:55 UTC on February 2, Ether surged past the psychologically important $1500 level for the first time ever and reached its the intraday high of $1548.00 at 22:33 UTC.

As for today, at 06:42 UTC, ETH reached $1572.75, setting a new ATH. Currently (as of 11:26 UTC), ETH is trading at $1554.50, which makes Ether’s market cap around $178 billion.

To celebrate ETH entering price discovery zone, crypto analytics firm IntoTheBlock tweeted a few interesting facts about the world’s second most valuable cryptoasset:

Popular New Zealand-based crypto analyst Lark Davis (@TheCryptoLark on Twitter) expects Ether’s price rally to continue once the Galaxy Ethereum Fund, which is expected to launch around the middle of this month, becomes available to institutional investors.

Crypto analyst/trader Luke Martin (@VentureCoinist), who is also the host of the “Venture Coinist” podcast and the “Venture Coinist” YouTube channel, expects the Ether price to go much higher:

Mohit Sorout, Founding partner at Bitazu Capital, said earlier today that although many crypto market participants hesitated buying ETH when it was below $1500, last month there were only two dip buying opportunities and they did not last long.

Bitcoin (BTC) $ 26,578.12 0.10%
Ethereum (ETH) $ 1,594.57 0.30%
Tether (USDT) $ 1.00 0.10%
BNB (BNB) $ 211.21 0.12%
XRP (XRP) $ 0.511416 0.66%
USDC (USDC) $ 0.999968 0.02%
Lido Staked Ether (STETH) $ 1,595.17 0.48%
Dogecoin (DOGE) $ 0.061639 0.34%
Cardano (ADA) $ 0.245440 0.03%
Solana (SOL) $ 19.44 0.05%
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