Ethereum has jumped 10 percent in the past few hours to $ 1,300. Ethereum has grown 66 percent over the past week.
To Report Ethereum, the price of Ethereum, went from $ 1,225 to $ 1,280 and then to $ 1,300 in about an hour.
The digital currency is now one step away from its $ 1,432 historical high reached three years ago.
In addition to Ethereum, other market currencies have grown significantly. This good performance pushed the digital currency market value to over $ 1 trillion for the first time in history. The growth of bitcoin prices also had a significant impact on increasing market value. The price of Bitcoin has been trading in the last few days with a 25% growth in the range of $ 40,000.
Experts believe that the demand for the $ 1 billion purchase position of one of the Ethereum whales at Bitfinex caused the price increase. When a long position is claimed at Bitfinx, it means that all borrowed assets taken from the exchange at the beginning of the position have been settled.
Others believe that the whale intends to keep its currencies; Because he thinks the uptrend will continue. It should not be forgotten that if this whale sells this amount of its assets, it can lower the price of Ethereum.
Darius Sit, founder of QCP Capital, said:
The whale’s move was for profit only and should not be reaped.