Both Ethereum (ETH) and Bitcoin (BTC) have surged today, with the former reaching yet another all-time high of just over $1,720, according to crypto metrics platform CoinGecko.
Ethereum has just reached a new ATH of $1,711. Image: CoinGecko
At the time of writing, Ethereum is trading at $1,718, up 5% on the day. The coin's market capitalization—the combined price of all ETH in circulation—amounts to roughly $195.9 billion, with a daily trading volume of over $40 billion.
Ethereum has been on a strong uptrend over the past few weeks, rising from $640 to its current price in just two months and eclipsing its previous all-time high at the start of January.
Bitcoin, on the other hand, didn't break any records today, but its price has broken above $38,000, potentially priming the crypto to take another jab at its ATH of $41,940 on January 8. Currently, BTC is trading at $38,091 per coin.
The cryptocurrency is currently going through a correction after surging from $10,000 to above $40,000 on January 8. A large amount of institutional investment has given the asset a big boost and continues to fuel its growing momentum.
As Decrypt reported, the latest surge somewhat coincided with a large transfer of 14,875 BTC—worth over $556 million—from crypto exchange Coinbase Pro wallets. Another massive Bitcoin “exodus” from Coinbase Pro occurred on January 31 as over 15,200 BTC (nearly $500 million) was transferred out of the exchange’s wallets in just one day.
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