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Grayscale Acquired 47,000 ETH Before Ethereum Hit New All-Time High at $1,690

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Thu, 02/04/2021 - 10:14
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Yuri Molchan
Data from analytics service Bybt says that Grayscale has acquired another 47,000 ETH and, after that, Ethereum scored two new all-time highs in a row
Grayscale Acquired 47,000 ETH Before Ethereum Hit New All-Time High at $1,690
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Earlier today, the second-largest cryptocurrency, Ethereum, briefly surged above the $1,690 level, thus printing another all-time high.

Prior to that, on Feb. 3, it surpassed the $1,600 level for the first time ever.

Before both all-time highs took place, Grayscale added 47,000 ETH to its crypto holdings, which equals $76,060,100.

Ethereum surges above $1,690, a new all-time high

In the early hours of Feb. 4, Ethereum printed another all-time high, rising from the $1,600 level reached a day earlier up to the $1,691 level.

Among the causes pushing the second-largest crypto further up was the rising amount of ETH in the Ethereum 2.0 deposit contract and the approaching date of ETH-based futures on CMEwhich is set for Feb. 8.

Besides, for a while already, analysts have been watching low ETH balances on crypto exchanges.

At press time, ETH is sitting at $1,629, as per the Binance chart on TradingView.

ETH
Image via TradingView

Grayscale rakes in $76 million worth of ETH

Data from analytics provider Bybt has it that, on Feb. 3, Grayscale closed a deal to purchase another ETH lump worth $76,060,100 (at the current ETH rate): 47,000 ETH.

Overall, Grayscale Ethereum Trust holds a whopping three million ETH, which is $4.91 billion.

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Image via Bybt

Related
Ethereum Surpasses $1,600 for the First Time

Whales transfer over one million ETH between anon wallets

Data shared by popular crypto tracker Whale Alert says that, over the past 20 hours, gargantuan amounts of Ether have been shifted on the blockchaina total of 1.019 million ETH.

That stands for over $1,625,930,000. The transactions were mostly performed between anonymous wallets in massive lumps of a minimum of 20,000 ETH. Two of the largest ETH lumps sent amounted to 93,000 coins each.

Santiment analytics agency has confirmed that daily activity on Ethereum addresses has increased.

ETH
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About the author

Yuri is a crypto journalist interested in technology and technical innovations. He has been in crypto since 2017. Believes that blockchain and cryptocurrencies have a potential to transform the world in the future in many of its aspects. ‘Hodls’ major cryptocurrencies and has written for multiple crypto media outlets. 

His articles have been quoted by such crypto influencers as Tyler Winklevoss, John McAfee, CZ Binance, Max Keiser, etc.

Currently Yuri is a news writer at U.Today and can be contacted at yuri.molchan@u.today.