Ethereum (ETH) hits all-time high after 7% daily price hike

Ethereum has gained value over $ 500 since last week. This resulted in a new record of over $ 2,080. Just over a week ago – March 24 – ETH fell to $ 1,520 as a result of a market-wide pullback pushing all crypto assets south. However, the second largest cryptocurrency eventually changed the situation. As CryptoPotato reported, over the next nine days, ether caused a drop of more than $ 2,000 earlier today, with an increase of around $ 500. Moreover, the increasing institutional demand for the cryptocurrency alone did not stop exceeding this numbered milestone. Ethereum made its way north, making a new high of over $ 2,080 a few minutes ago (on Bitstamp). ETHUSD. Source: TradingView Of course, the increase in price per currency also caused an increase in ETH's total market capitalization. At the time of writing, the metric exceeded $ 240 billion. According to AssetDash's data, this places Ethereum among the top 35 assets by market capitalization. The last major name to surpass ETH in its rise was Netflix. This came after The Coca-Cola Company, AT&T, Nike and more were shut down. It should be noted that Ethereum is also rising compared to bitcoin, which is the main crypto currency. The ETH / BTC ticker on TradingView is bullish to about 0.035, a 3-week high. Along with corporate adoption and high net worth individuals such as Mark Cuban, who bought parts of ETH, the Ethereum network also benefited from high usage. Blockchain is the technology that underpins two of the most successful crypto spaces of recent times: Decentralized Finance (DeFi) and Non-Exchangeable Tokens (NFT). The upcoming version of Ethereum 2.0, which will signal the transition from the current Proof of Work consensus algorithm to Proof of Stake, also attracts a lot of attention. Read more

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