ETH hit all-time highs amid new price surges.
Ethereum has regained the $2000 range.
According to Cointelegraph, a cryptocurrency media outlet on the 2nd (local time),’Ethereum’, the second-largest cryptocurrency asset based on market capitalization, renewed the previous high of $2,041, which was renewed on February 19, 2021. I did it.
On this day, Ethereum (ETH) reached a record high of about $2,110. As of 3 pm on the 5th domestic time, the ETH price is trading at about $2,040, which is a drop of 0.05% compared to 24 hours ago.
ETH has been on a downtrend since its record high in February. After hitting the top of $2,041, the ETH price fell to about $1,293 for a few days. Then, ETH recovered to about $1,943 by March 13th, then fell back to the $1,546 level for another few days. Since then, it has shown an upward trend for 4 consecutive days.
CoinMarketCap, a cryptocurrency exchange, ranked ETH as the second largest asset based on the current market capitalization. ETH, which has a market cap of close to $239 billion, ranks second with a more marginal gap than Binance Coin (BNB), but is far from the first-ranked Bitcoin (BTC) market cap of $1.1 trillion.
ETH has garnered a lot of headlines over the past few months with the transition to Ethereum 2.0, or Eth2, along with its role in decentralized finance, or DeFi. Eth2 plans to expand the Ethereum network and completely transform the blockchain into an authentication algorithm in the next few months.
On the other hand, the trajectory of ETH’s price increase is in line with the overall bull market of cryptocurrency that led to BTC trading over $60,000.