ETH breaks $200 for the first time in nearly 4 months, with several on-chain indicators showing continuous growth.

Despite the global crypto community's focus on the upcoming Bitcoin halving, many influential figures in the crypto space also believe that the halving will usher in a new all-time high for Bitcoin. However, since the beginning of this year, Ethereum has consistently outperformed Bitcoin in several indicators, with its price even reaching highs not seen since September last year.

• Ethereum On-chain Data and Prices Continue to Grow
• Amount of Ether Held by All Mining Pools Nears All-Time High

As the second largest cryptocurrency by market capitalization globally, Ethereum struggled for most of 2019, but the new year seems to bring optimistic prospects for Ethereum investors.

According to crypto data platform Skew, Ethereum's price has grown by 53% year-to-date, surpassing Bitcoin's 29%. Additionally, futures and options trading volumes have also significantly increased.

Significant Growth in Trading Volume and Price

Ethereum has risen from $130 at the beginning of the year to the current price of $200, achieving half of the growth in just about a month, also marking the highest price in the past 4 months.

Price is not the only indicator that has seen significant growth this year. According to on-chain data from IntoTheBlock, the average transaction volume on the Ethereum blockchain has grown by over 122% since the beginning of the year.

Ethereum Outperforms Bitcoin

While Bitcoin's transaction volume has also grown this year, it has gradually slowed down after reaching a 73% increase compared to Ethereum's 122% growth.

In addition, the number of large transactions on the Ethereum blockchain has grown from 130 on January 1st to 350 on February 2nd.

A report points out that even slight price increases for Ethereum this year drive up its average transaction volume, trading volume, and number of active addresses.

Furthermore, according to crypto market data platform Santiment, the amount of Ether held by all Ethereum mining pools has reached an all-time high of 1.69 million Ether, set in October last year, indicating that Ethereum miners are not rushing to sell for arbitrage but are choosing to accumulate coins, showing confidence in future prices.

Further Reading

• Survival! ETC Completes "Agharta" Hard Fork Upgrade to Achieve Compatibility with Ethereum
• Consensys-Lead Privacy Protocol Launches on Ethereum, First to Release Privacy Stablecoin ZkDai

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