By Tobi Loba
Tyler Winklevoss, the co-founder and CEO of the cryptocurrency exchange Gemini, who is known as one of the earliest Bitcoin adopters, is of the opinion that buying ETH at the present state is like a “steal”. He noted that Ethereum (ETH) is still about 51% away from its all-time high.
Tyler shared this trending opinion in a tweet on 31st December 2020, when Ethereum (ETH), the second-largest cryptocurrency by market cap, was still priced around the $700 price level.
According to the CEO of Gemini, the best time to buy ETH is now that’s still trading at about 50% away from its price all-time high.
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He compared purchasing the cryptocurrency now to when Bitcoin was trading at $14,000. He then classified such a buy option as a “steal”.
Tyler Winklevoss tweeted, “The price of ether ETH right now is $735. This is 51% off of its all-time-high, which is like buying Bitcoin at 14k. What a steal.”
The price of ether $ETH right now is $735. This is 51% off of its all-time-high, which is like buying #Bitcoin at 14k. What a steal.
— Tyler Winklevoss (@tyler) December 31, 2020
Tyler’s comment was about four days ago. It’s worth noting that Ethereum (ETH) has currently surpassed the $700 price region. At the time of writing, ETH is trading at $865.88, with about a 15% price increase in the last 24 hours.
Ethereum (ETH) Whales on the Accumulation Spree
Considering the comment, Tyler is possibly expecting Ethereum (ETH) to keep consolidating its upside trend. At the same time, Ethereum whales seem to be preparing for such a scenario with enormous purchases.
According to a crypto analytics platform, Santiment, the number of Ethereum wallets holding over 10,000 ETH has been on the increase over the past two months, which is the result of the current accumulation trend of the digital currency.
Santiment tweeted, “With ETH crossing $750 for the first time in 31 months, we’ve discovered that there are 39 more Ethereum addresses holding 10,000+ ETH compared to just 2 months ago. Meanwhile, the amount of addresses holding 1-10,000 ETH have shrunk over this time.”
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Conclusively, ETH is expected to keep its top performance. Also, it’s vastly known that replicating Bitcoin’s surging trend is an additional advantage for the digital currency to overcome higher challenges ahead.
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