Ethereum rallies to a new high, breaks the $2,000 mark

Ethereum rallies to a new high, breaks the $2,000 mark

The price of Ethereum has once again broken past the $2,000 mark to set a new all-time high (ATH) at over $2,100.

Earlier today, the world’s second-largest cryptocurrency hit a new all-time high of $2,107. As of press time, the price of the digital asset was still trading within this range and was exchanging hands at $2,094.

Recall that Ethereum first broke the major milestone on February 20 amid Bitcoin’s rally to becoming a trillion-dollar asset. However, prices slumped sharply on March 25 in a general market correction. Ethereum has been trading sideways ever since, slowly pushing closer to the $2k mark.

The recent rally could be credited to several factors. For one, Ethereum has received a lot of public endorsements from high-profile individuals, including Mark Cuban. In a recent podcast interview where he talked about his investment portfolio, Cuban said:

Smart contracts came along, and that created DeFi and NFTs. That’s what changed the game. That’s what got me excited. That’s why it’s a lot like the internet.

He added that Ethereum is arguably the closest thing to a true currency.

Secondly, Visa’s recent announcement of using the Ethereum blockchain to settle transactions for USD Coin was another major win.

Subscribe to BTC PEERS

Don’t miss out on the latest issues. Sign up now to get access to the library of members-only issues.
jamie@example.com
Subscribe