- Ethereum’s price hit a new all-time high of $ 3204 amid strong buying pressure in the market.
- The giant e-commerce platform eBay is reportedly investigating NFT auctions as well as Bitcoin payments.
- Ethereum faces little to no resistance thanks to the strong on-net metrics that support it.
Ethereum has surged in the last 24 hours, hitting a new all-time high of $ 3204, beating Bitcoin and the rest of the market. The market capitalization of ETH reached $ 370 billion, which is almost four times the size of Binance Coin, although it has also grown significantly.
eBay Explores NFT Auctions and Bitcoin Payments
Jamie Iannone, CEO of eBay, told CNBC that the company is exploring a new form of payments. eBay recently introduced Apple Pay and Google Pay to give users more options.
Iannone mentioned that cryptocurrencies are interesting as payment options as well as NFT as eBay is known as a place for merchandise transactions, adding:
With 170 million buyers on the platform, this is where sellers come to get massive demand. We are looking at it and exploring the possibilities. When you think of collectibles, anything collectible has been on eBay for decades and will remain that way for the next several decades.
The CEO also stated that it will still take some time for eBay to turn on NFT auctions. It is important to understand that the term NFT comes from non-fungible tokens that were built on Ethereum. About 99% of all NFTs are on Ethereum and are likely to remain there. Anything that benefits NFT benefits Ethereum.
Ethereum price could hit even higher highs
Ethereum’s price has hit a new all-time high of $ 3,204, which seems like an unstoppable rally. The next target price for a digital asset is $ 3,548, which is the 127.2% Fibonacci retracement level.
ETH / USD daily chart
To add credibility to bullish predictions, it is important to check the significant amount of Ethereum coins blocked from exchanges. There are currently about $ 69 billion worth of ETH locked in DeFi protocols.
In addition, 4.14 million ETH was locked in the Ethereum 2.0 contract, which is $ 13 billion. This means that ETH has been blocked for a total of $ 82 billion, which is about 22.5% of the total market capitalization of Ethereum.