Ethereum has been steadily gaining 5% a day over the last week and is now reaching a new high of $2900. Ethereum is currently trading at a new all-time high of $2866, with a market capitalization of $331 billion.
New Month, New ATH
For the first time in history, Ethereum was able to reach $2,850, and it is on its way to surpassing $3,000. This will help the virtual currency to break its all-time high price and get closer to Bitcoin’s market capitalization. While Bitcoin remains the most common virtual currency, its market share has fallen below 49%, and Ethereum’s market share is approaching 15%.
According to data analytics platform Skew, the recent ETH price rally coincides with an increase in spot trading volumes since mid-April.
Ether spot volumes have materially picked up since mid-April pic.twitter.com/3WqHlWdsl7
— skew (@skewdotcom) April 29, 2021
Analysts are optimistic about the ETH price surge, predicting that it will continue in the near future. A majority of market participants expect that the Ethereum price will rise to $10,000 or higher by the end of the year.
Bitcoin has crossed $58,000 in the last few hours and is now very close to $60,000, a high psychological level that will be critical to surpass in the coming days.
Bitcoin and Ethereum aren’t the only virtual currencies that are rising in value. Binance Advertisements
