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Date:
26th Jan 2021
Author:
CryptoAltum Research Team

Ethereum Price Rallies to a New All-Time high, DeFi TVL Over $26 Billion

The Ethereum price, on Jan 26, rose to a new all-time high, soaring above $1.42k. Accompanying the surge is a renewed interest in DeFi. Different crypto open finance protocols now manage over $26 billion, according to trackers. Analysts remain upbeat about Ethereum citing its primary role in promoting decentralized finance critical for financial inclusion, its lead as a preferred smart contracting platform, and developers' efforts to further refine the protocol, eliminating pain points like scalability and Gas fees.


Details: 

The ETH/USD price is trading at a new all-time high, a few days after a contracting, falling below $1.2k. Backed with general market optimism, confidence in Ethereum as a leader in smart contracting and the home of DeFi, analysts project the current rally to continue. With the influx of capital--judging from the expansion of DeFi TVL, an emerging sphere that democratizes finance enabling ordinary investors to participate, the ETH price could further inflate to record levels. Anthony Sassano and a host of other influencers say the coin could rally to $10k in the next few months fanned by supportive triggers like Eth2 and institutional preference.


Impact on the ETH Price: 

Bullish. The ETH/USD pair is trading within a bullish breakout pattern following yesterday's gains. Confirming gains of the second week of January, the influx of new capital could propel ETH prices higher above $2k in the medium term.


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