- Ethereum is trading over $1400 for the first time since Nov.9.
- The network has seen the appearance of 3,000 new shark addresses.
- Other coins such as XRP have also seen a significant surge.
The cryptocurrency community rejoiced greatly at the latest market increase after a protracted period of stagnation. Ethereum (ETH), the second-largest cryptocurrency network, is reportedly now trading over $1,400 for the first time since it crashed 26% on November 9.
According to onchain data providerSantiment,, the network has seen the appearance of 3,000 new shark addresses, each holding 100 to 10,000 $ETH in the last 10 weeks. Since February 2021, 48,556 shark addresses have been reported, which is allegedly the largest number.
Along with Ethereum, a number of other cryptocurrencies have been doing very well as of late. Cardano and Litecoin have distinguished themselves as the preferred cryptocurrencies among traders in the last several weeks according to Santiment data.
Other alternative cryptocurrencies, like XRP and Chainlink, have also seen a significant increase in address activity in recent times.
Furthemore, Santiment reports:
XRP Network is +6.2% in the past 24 hours while the majority of crypto has declined today. In part, this is due to a major pump in address activity over the past week. We have also seen a pattern of big social dominance spikes leading to $XRP price gains.
At press time, Ethereum was changing hands at $1,398 with a 24-hour trading volume of $9,263,230,209 and is up 4.74% in the last 24 hours. The current market capitalization is $171,177,697,696. It also has a circulating supply of 122,373,866 ETH coins.
According to experts, If the price of ETH is going to continue rising, it must first break over its current resistance of $1,408. The next significant barrier is around $1,600, a price that hasn’t been seen since November 6th.