The digital assets market has had to endure volatility in the past few days as major coins have witnessed several ridiculous trading sessions in the last two weeks. Asides from Bitcoin, another digital asset that has been heavily criticized in the last few days for its trade is Ethereum.
Despite coming into the new year on the back of a bullish momentum that was sustained thanks to Bitcoin, the digital asset gave way to the bears who took over at short intervals. But as it stands now, things are looking good as the second digital asset, according to market cap, touched a milestone figure not quite long.
The digital asset surged to $1,475 on the morning of the Asian trading session
Ethereum has once again made history in the market, according to various news outlets, touching a new all-time high. The feat was recorded during the morning of the Monday trading session across Asia. The digital asset saw the bulls come to its rescue after several volatilities led to a surge and decline to move a little shy of the predicted $1,500 price mark. Even though other crypto enthusiasts in the market are backing the digital asset to touch higher figures, the digital asset is on the right way to prove them right.
According to some leading digital asset exchange platform, Binance inclusive, the biggest Ethereum price ever was witnessed as the digital asset climbed well to stay around the 1,475 price region. Even though it has saw a little price correction, the digital asset still saw an 8% gain in the space of a day to place around $1,435.
Comparing the movement of the first and second digital asset according to market cap, one would note that Ethereum has performed well in the market, seeing a 15.5% gain in seven days compared to that of Bitcoin’s 7% loss.
Staked Ethereum now above $4 billion
The movement of Ethereum shows and buttresses the fact that Ethereum has been able to trade away from the shadow of Bitcoin, gaining more Satoshi as the days roll by. Reverberating the success enjoyed by the digital asset market, Ethereum has announced that it has seen a record $4 billion worth of Ethereum staked on its deposit contract.
It is located on its Beacon Chain. In their daily update, the developers of the Ethereum 2.0 has mentioned that the total staked asset has now moved well above 2 million Ethereum, a figure that stands as 2.5% of the total Ethereum in supply.
Even though the figure looks very small compared to other staking networks, one would be confident that the staked assets are enough to secure the blockchain. The next time the investors would be able to access the blockchain is when the developers move to phase 1.5, seeing the merging of Ethereum 1 and Ethereum 2.
Presently, investors and traders who have already staked are earning interests at a steady rate of 9.3% APY, which would be considered as an impressive gain on their part. One of the main factors that have seen the increase of the APY is the steady rise of the digital asset in the market since the Beacon Chain launch.