{"id":32324,"date":"2023-11-11T01:52:49","date_gmt":"2023-11-11T05:52:49","guid":{"rendered":"http:\/\/cryptocornercafe.com\/cafe\/?p=32324"},"modified":"2023-11-11T01:52:49","modified_gmt":"2023-11-11T05:52:49","slug":"ethereum-price-propels-to-52-weeks-high-heres-what-behind-it","status":"publish","type":"post","link":"http:\/\/cryptocornercafe.com\/cafe\/2023\/11\/11\/ethereum-price-propels-to-52-weeks-high-heres-what-behind-it\/","title":{"rendered":"Ethereum Price Propels To 52-Weeks High, Here\u2019s What Behind It"},"content":{"rendered":"

Ethereum (ETH)<\/a> has been experiencing an upward trajectory for quite a while now, reaching its highest yearly price point in the week and presenting an impressive 52-week high.\u00a0<\/p>\n

Ethereum\u2019s Price Supported By Latest Developments\u00a0<\/h2>\n

The Ethereum\u2019s price<\/a> surge can be traced back to several factors that have propelled the cryptocurrency\u2019s growth. The asset reached its 52-week high of $2,137 on Thursday, November 9, as seen in the chart below.\u00a0<\/p>\n

One of the factors that has contributed to the crypto asset\u2019s price surge is the number of ETH staked. A rise<\/a> in ETH staked, which stood at over 28 million, according to data<\/a> from Beaconscan.\u00a0<\/p>\n

As of August, the number of validators in the Beacon Chain was approximately 786,000, but today that number is currently at 884,000. This indicates confidence in Ethereum\u2019s long-term stability, which can be promising to investors.<\/p>\n

In addition, the token\u2019s on-chain volume has also increased significantly over time. Recent data shows that the asset\u2019s volume now sits at approximately 2.62 billion from 1.5 billion as of September. This indicates an over 70% increase since September.<\/p>\n

Blackrock\u2019s Spot Ethereum ETF Sparks Increase<\/h2>\n

The most recent development that has propelled the asset\u2019s price is BlackRock\u2018s registration of a spot Ethereum Exchange Traded Fund (ETF). Since the firm made known its registration of a Spot Ethereum ETF, there has been quite an improvement encompassing the cryptocurrency.<\/p>\n

Blackrock is the world\u2019s largest asset manager with trillions of dollars in assets under management, the firm that has also applied for a Bitcoin spot ETF<\/a>. The firm applied for a Bitcoin spot ETF in June 2023. However, it is awaiting a decision from the United States Securities and Exchange Commission (SEC).<\/p>","protected":false},"excerpt":{"rendered":"

<\/p>\n

Ethereum (ETH)<\/a> has been experiencing an upward trajectory for quite a while now, reaching its highest yearly price point in the week and presenting an impressive 52-week high.\u00a0<\/p>\n

Ethereum\u2019s Price Supported By Latest Developments\u00a0<\/h2>\n

The Ethereum\u2019s price<\/a> surge can be traced back to several factors that have propelled the cryptocurrency\u2019s growth. The asset reached its 52-week high of $2,137 on Thursday, November 9, as seen in the chart below.\u00a0<\/p>\n

One of the factors that has contributed to the crypto asset\u2019s price surge is the number of ETH staked. A rise<\/a> in ETH staked, which stood at over 28 million, according to data<\/a> from Beaconscan.\u00a0<\/p>\n

As of August, the number of validators in the Beacon Chain was approximately 786,000, but today that number is currently at 884,000. This indicates confidence in Ethereum\u2019s long-term stability, which can be promising to investors.<\/p>\n

In addition, the token\u2019s on-chain volume has also increased significantly over time. Recent data shows that the asset\u2019s volume now sits at approximately 2.62 billion from 1.5 billion as of September. This indicates an over 70% increase since September.<\/p>\n

Blackrock\u2019s Spot Ethereum ETF Sparks Increase<\/h2>\n

The most recent development that has propelled the asset\u2019s price is BlackRock\u2018s registration of a spot Ethereum Exchange Traded Fund (ETF). Since the firm made known its registration of a Spot Ethereum ETF, there has been quite an improvement encompassing the cryptocurrency.<\/p>\n

Blackrock is the world\u2019s largest asset manager with trillions of dollars in assets under management, the firm that has also applied for a Bitcoin spot ETF<\/a>. The firm applied for a Bitcoin spot ETF in June 2023. However, it is awaiting a decision from the United States Securities and Exchange Commission (SEC).<\/p>\n

<\/p>\n","protected":false},"author":0,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"colormag_page_layout":"default_layout","_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[82],"tags":[],"class_list":["post-32324","post","type-post","status-publish","format-standard","hentry","category-blockchain"],"jetpack_featured_media_url":"","jetpack_sharing_enabled":true,"_links":{"self":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32324","targetHints":{"allow":["GET"]}}],"collection":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/types\/post"}],"replies":[{"embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/comments?post=32324"}],"version-history":[{"count":1,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32324\/revisions"}],"predecessor-version":[{"id":32334,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/posts\/32324\/revisions\/32334"}],"wp:attachment":[{"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/media?parent=32324"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/categories?post=32324"},{"taxonomy":"post_tag","embeddable":true,"href":"http:\/\/cryptocornercafe.com\/cafe\/wp-json\/wp\/v2\/tags?post=32324"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}