Ethereum (ETH) today showed a consecutive surge before successfully surpassing the $ 1,400 level earlier this afternoon.
At the time of writing, the asset is trading at $ 1,434 with a jump of 7.9% in 24 hours, approaching the all-time high (ATH) recorded on January 25, $ 1,454.
According to sources from CryptoQuant, there are a large number of ETHs that have been removed from exchanges recently, bringing the remaining remaining records to lows.
In the last 30 days, a total of 3.75 million ETHs worth $ 4.97 billion have been transferred out of exchange carrying the possibility of dumping the coins have been transferred for Ethereum 2.0 investment, as savings in cold wallets or DEXs.
Another report from Glassnode shows that the amount stored in Ethereum 2.0 deposit contracts has reached $ 4.0 billion.
At the same time, ETH gas prices are rising and reaching a three-week high of $ 11.46. It is possible that usage will return flat until the payment returns to normal.
The increase in ETH gas was not only driven by the purchase of ETH among investors but also due to the recent DeFi activity.
The meaning of gas here is the cost required to conduct transactions on the network.
Year-to-date records also show that Ethereum prices have jumped 90%. Analysts describe this as a start as the launch of CME Ether Futures in the next few weeks will bring more institutional investment into this currency.
