Is there a possibility that Ether (ETH), the cryptocurrency of Ethereum Network, will reach a new historic maximum this week, or even this same Tuesday, August 12th?
At the end of this report, the price of the ETH is $4,400. So far, it has risen 3.8%. This can be seen in the following TradingView graph: By overcoming $4,891, ETH can establish a new historical record last seen in 2021.
The Ether increase was driven Tuesday by a variety of factors, including the announcement of Bitmine Immersion, a company that rents for US$20 million to buy more ETH.
The same company obtained 397,000 ETH on August 10th. This is one of the biggest purchases made by a company once dedicated to Bitcoin mining.
ETH has seen a 31% increase this year from January, showing a noticeable rebound. This corresponds to the growing adoption of cryptocurrency by institutions and businesses, and has consolidated the assets as part of the Ministry of Finance. So far, there have been at least 72 entities of various types that ETH uses as value reserves.
(tagstotranslate)ethereum(eth)
