- Ethereum price has hit a new all-time high of $3,204 amid strong buying pressure in the market.
- The giant e-commerce platform eBay is reportedly looking into NFT auctions as well as Bitcoin payments.
- Ethereum faces practically no resistance ahead with strong on-chain metrics supporting it.
Ethereum has exploded in the past 24 hours reaching a new all-time high of $3,204 outperforming Bitcoin and the rest of the market. ETH hit $370 billion in market capitalization almost quadrupling Binance Coin even though it also saw a massive rally.
eBay is exploring NFT auctions and Bitcoin payments
Jamie Iannone, CEO of eBay has stated in a CNBC interview that the company is looking into new form of payments. eBay has recently introduced Apple pay and Google pay to give users more options.
Iannone mentioned that cryptocurrencies are interesting as payment options and also NFTs as eBay is known as the place to transact goods adding:
With 170 million buyers on the platform, this is the place that sellers come to get scale demand. We are looking at it and exploring opportunities. When you think about collectibles, everything that is collectable has been on eBay for decades and will continue to be for the next few decades.
The CEO also stated that it would still take eBay some time to enable NFT auctions. It’s important to understand that the term NFT, comes from Non-Fungible Tokens which were built on Ethereum. About 99% of all NFTs are on Ethereum and will most likely stay there. Anything that benefits NFTs, benefits Ethereum.
Ethereum price could see even higher highs
Ethereum price hit a new all-time high of $3,204 in what seems to be an unstoppable rally. The digital asset’s next price target is located at $3,548 which is the 127.2% Fibonacci retracement level.
ETH/USD daily chart
To add credence to the bullish outlook, it’s important to check the significant number of Ethereum coins locked away from exchanges. Currently, about $69 billion worth of ETH is locked inside DeFi protocols.
ETH Locked away
Additionally, inside the Ethereum 2.0 contract, 4.14 million ETH have been locked which represents $13 billion. This means that a total of $82 billion worth of ETH is locked away, which is about 22.5% of the total market cap of Ethereum.
Note: All information on this page is subject to change. The use of this website constitutes acceptance of our user agreement. Please read our privacy policy and legal disclaimer. Opinions expressed at FXstreet.com are those of the individual authors and do not necessarily represent the opinion of FXstreet.com or its management. Risk Disclosure: Trading foreign exchange on margin carries a high level of risk, and may not be suitable for all investors. The high degree of leverage can work against you as well as for you. Before deciding to invest in foreign exchange you should carefully consider your investment objectives, level of experience, and risk appetite. The possibility exists that you could sustain a loss of some or all of your initial investment and therefore you should not invest money that you cannot afford to lose. You should be aware of all the risks associated with foreign exchange trading, and seek advice from an independent financial advisor if you have any doubts.
Recommended Content
Editors’ Picks

Toncoin eyes recovery following Bitfinex debut of tokenized Gold via TON
Toncoin extends recovery as bulls push to reclaim the 50-period EMA on the 4-hour time frame. Bitfinex announced on Tuesday the launch of tokenized Gold supported via The Open Network.

Crypto Today: Bitcoin holds below $109,000 as Ethereum, XRP offer recovery signals ahead of FOMC minutes
Bitcoin shows signs of weakness, capped below $109,000, as focus shifts to the FOMC minutes release. Ethereum's lukewarm rebound steps above $2,600, underpinned by steady spot ETF inflows.

Elon Musk's tweet on Epstein and GrokAI’s hallucination puts the spotlight on PNUT, MechaHitler
PNUT stalls Tuesday's recovery, sparked by Elon Musk’s tweet about the Jeffrey Epstein case. X’s GrokAI referenced MechaHitler, resulting in a new trend in the crypto market with the creation of over 250 MechaHitler tokens.

Bitcoin Price Forecast: BTC steady around $108,000 as investors await FOMC minutes for Fed rate clues
Bitcoin price holds steady at around $108,000 on Wednesday, maintaining support at a key technical level. Investors' attention shifts to the FOMC meeting minutes, as it offers insights into the Fed’s interest rate path prospects.

Bitcoin: BTC ends Q2 with 30% gains, Standard Chartered eyes $200K by year-end
Bitcoin (BTC) closed a strong second quarter (Q2), recording nearly 30% in quarterly gains amid rising corporate and institutional demand and bullish market sentiment.

The Best brokers to trade EUR/USD
SPONSORED Discover the top brokers for trading EUR/USD in 2025. Our list features brokers with competitive spreads, fast execution, and powerful platforms. Whether you're a beginner or an expert, find the right partner to navigate the dynamic Forex market.