Just a few days ago, Ethereum set a new record. If the second largest cryptocurrency keeps up the pace, the brand could soon be razed to the ground.When the Bitcoin rally shifts down a gear, the Ethereum hour strikes again. In alternation, the two largest cryptocurrencies are currently defeating one record after the other. Only a few days ago, Ethereum reached a new all-time high, which could, however, be renewed soon at the current pace.At press time, Ethereum is trading at $ 1,419, just 1.1 percentage points below its all-time high. On a daily basis, the second-largest cryptocurrency gained 7.2 percent and thus posted a weekly plus of 7.4 percent.Since the beginning of the year alone, the Ethereum rate has almost doubled. The remarkable performance is initially due to different dynamics, which, however, are mutually dependent on second glance and continuously rock the price.First of all, the rally is the result of an increasing ether allocation from retail and institutional investors. As the following graphic from Glassnode shows, the number of wallets holding 0.1 or more Ether or 10,000 or more Ether has risen steadily since November last year with few setbacks.The Ethereum search behavior on Google also shows an increasing interest among small investors. Although the trend has corrected somewhat downwards since the second half of January, it remains at a strong level compared to the previous year.Meanwhile, the recently published annual report of the crypto exchange Coinbase suggests that Ethereum is increasingly establishing itself as a popular asset class among large investors. Institutionalists are gradually recognizing the value storage qualities of the second largest cryptocurrency and are increasingly shifting assets into it. In addition, over the years, an understanding of the synergetic network effects has matured, which ultimately leads to a far-sighted ether accumulation by wealthy investors.The increasing\u2026<\/p>","protected":false},"excerpt":{"rendered":"
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