48 hours after setting a new high above $2,200, Ethereum’s price has continued to rally upward. The world’s second-largest cryptocurrency and smart contract platform has scored a new all-time high at above $2,500.
Ethereum has enjoyed a parabolic growth in the past few months, fueled by the DeFi boom and more recently, the surge in NFT activities. In the last week, the digital asset is up by over 25%, probably in anticipation of the recent Berlin upgrade.
As reported by BTC PEERS, the Berlin hard fork went live yesterday. The upgrade features several Ethereum Improvement Proposals (EIPs). The recent rally may be an offshoot of the buildup and excitement around the upgrade.
Apart from Ethereum, several other top cryptos are sitting on significant gains. DeFi staples such as Uniswap, Aave, and Synthetix recorded daily gains. Binance Coin, Ripple, and Cardano have also had an impressive week. However, the biggest gainer is Dogecoin, having surged by 200% this week, following tweets from Elon Musk.
With a price tag of over $2,500, Ethereum’s market cap is now over $288 billion. Comparatively, this is more than the market caps of Intel, Toyota, and Netflix.