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.