Bitcoin is again trading above $7,000, and the ETH exchange balance reaches its maximum since 2016

Bitcoin has gone up to $7,000

Since March 13, bitcoin has grown in price by more than 80%. Most of the crypto assets from TOP-20 also added in value: Stellar (11.69%), TRON (9.51%) and Ethereum (6.42%) have demonstrated the highest growth.

Earlier we noted that the capitalization of the USDT stablecoin exceeded $6 billion for the first time. A number of analysts attribute the increase of the number of Tether tokens to the rise in bitcoin price.

ETH exchange balance reaches its maximum since 2016

According to Glassnode, this is the highest level since December 2016 and it accounts for 16% of all circulating coins. Interestingly, the indicator is inversely correlated with the price of ETH. Thus, for 12 months from December 2016, Ethereum has risen in price from $6 to $ 1,350 — at the same time, the cryptocurrency exchange balance has decreased from 18 to 8 million coins.

On March 13, the ETH price fell to $95, which was the lowest since December 2018. Now the coin is trading near the $154 mark.

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