Ethereum Rises Above $ 1600

On Wednesday, February 3, the rate of the second largest capitalization broke through the level of $ 1600, setting a new price record.

This happened amid relatively low trading volumes (Bitstamp exchange).

The total value of the cryptocurrency exceeded 180 billion, the dominance index rose to 16.1% (according to CoinGecko).

Ethereum surpassed the $ 1500 mark on February 2.

In January, venture capital firm Variant investor Spencer Noon listed 11 metrics that, in his opinion, indicated a continuation of the cryptocurrency rally. At that time, on January 19, the price broke the $ 1400 level.

Analysts at Glassnode previously noted that large coin holders are creating upward pressure on the Ethereum price.

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