The price of Ethereum (ETH) has risen again to a new all-time high of $1,688 according to coingecko, but it is still undervalued according to Cameron Winklevoss, founder of cryptocurrency exchange Gemini.

The price of the Ethereum currency increased at a continuous pace during the past few days, to reach a new high at the level of 1688 dollars.

This comes against the backdrop of positive news, whether related to the resumption of the work of the Ethereum fund in “Grayscale” or the expected listing of Ethereum as a futures contract on the “Chicago” Stock Exchange.

interaction Mr. Cameron Winklevoss, with Ethereum hitting a new high, stated:

Read:Coming soon: Roger Ver and Nouriel Roubini debate on blockchain technology and cryptocurrency

I think Ethereum is still undervalued.

He added:

At $1,500, Ethereum is still undervalued…

Just as there is no cap on the value of the Internet, in the long run, the potential for decentralized applications and computing is limitless.

At $1500 Ether ETH dollar It is still undervalued… Just as there is no cap on the value of the Internet, in the long run, the potential for decentralized applications and computing is limitless.

– Cameron Winklevoss (@cameron) February 2, 2021

The price of Ethereum rose on most trading platforms and exceeded the value of $1600, achieving new highs. The data from the options market showed great activity around Ethereum and increased interest in the crypto market in general, which contributed to the continued rise in the price of Ethereum to new highs.

The increase in activity on the Ethereum blockchain indicates that the Ethereum price is in the new price discovery zone according to the researchers at IntoTheBlock.

After the price of Ethereum topped $1,650 for the first time in history, researchers said that the high activity in the Ethereum network is comparable to the numbers seen in January 2018 at the end of the market’s most recent bull run.

Read:An investor tells the story of his loss of more than 3 million dollars in the cryptocurrency world

chirp IntoTheBlock researchers say:

Ethereum breaks the $1600 barrier for the first time and enters the price discovery phase.

To celebrate the new Ethereum peak, here are some facts:

*Average daily Ethereum transactions increase by 100% (average 1.16 million per day)

*52.38 million ETH addresses, a new record.

At the time of writing this article, the price of Ethereum is again approaching its peak recorded hours ago at $ 1688 and we may see new numbers soon.

Read also:

The price of Ethereum rises to a new record, coinciding with more “Grayscale” investment in Ethereum

Binance launches a new service that competes with PayPal… Details here