Similar to Bitcoin, Ethereum has now hit an all-time high for the realized price. A significant feat, considering this upward adjustment is long overdue. Ethereum has another all-time high, but once that isn’t as positive as Litecoin’s.
Good And Bad News For Ethereum Holders
As most of the top cryptocurrencies have seen bullish momentum in the first two months of 2021, there will be some historical adjustments. The realized price for specific crypto-assets is likely to receive a healthy nudge. Bitcoin recently set an all-time high value in this segment, and Ethereum does the same.
Today, the realized price for Ethereum hit an all-time high of $658.74. This is a healthy sign, considering how the previous all-time high dates back to early 2018 at a value of roughly $350. As most markets have not been too bullish between 2018 and late 2020, it is not surprising to see the realized price enter sideways momentum on the chart.
As time progresses and Ethereum maintains a level above $1,300, the realized price will keep going up. Eventually, it too will hit the ceiling unless the price keeps trending higher. In recent weeks, that has proven a bit challenging for all significant cryptocurrencies. Bitcoin remains incapable of staying above $50,000, dragging all other markets down with it.
Speaking of all-time highs for Ethereum, there is a new one-month high for the number of addresses in the loss. With over 2,653 million addresses in the loss today, a new Ethereum price surge is direly needed. However, it may not materialize for some time to come as that momentum depends on Bitcoin’s performance. Contrary to what some may think, ETH seems incapable of moving up under its own power.
Litecoin Makes Some Waves
Even though few people talk about Litecoin, the popular altcoin has noted an impressive price performance. So much even that the currency notes a two-year high for its realized cap value. Surpassing $6.9 billion again is a monumental feat, given the historical performance. Less than six months ago, Litecoin’s realized cap was just $4.5 billion.
All of this goes to show there is always long-term potential where cryptocurrencies are concerned. Markets may move up or down for an extended period, but new highs often materialize pretty quickly. Whether it is Bitcoin, Ethereum, or Litecoin, there is no reason to be concerned about temporary market stagnation or slight bearish pressure.
It remains challenging to determine what the rest of 2021 will offer for all cryptocurrency markets. The 30-day performance of most markets remains intact, but the weekly and bi-weekly charts don’t provide too much excitement. The momentum can turn on a dime in this industry, as it has done many times before.