Ether (ETH), the largest cryptocurrency by market cap, exceeded $3,000 on Saturday, the highest value since mid-January. On Monday morning, Ethereum is trading at $3,076.
The Ethereum hashrate has also been growing steadily since the end of last year. According to Bitinfocharts, the computing power of the ETH network exceeded 998.717 TH/s on February 6.
The Santiment team notes the jump in Ether occurred after the activity of unique addresses in the network increased sharply. The number of such ETH wallets has increased to the highest level in the last two months.
According to the company experts, for the first time since December 5, the average daily number of active addresses exceeded 594,000.
Trader Ali Martinez believes that in the current cycle, Ethereum has not yet exhausted the potential for a new breakthrough. According to him, the ETH price may soon reach $3,500, as after a break above $3,000, the altcoin will meet almost no resistance.