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With bitcoin rising to uncharted heights, the Ethereum price surpassed the $ 900 level.
The last time the second largest cryptocurrency by capitalization was traded in this area in February 2018.
30 minute ETH / USD chart from TradingView.
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The price of Ethereum increased by almost 500% over the year (for bitcoin, this figure is 366%). However, the market value of ETH is still 43% below its all-time high of 1,085 days ago.
Data: Messari.
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Well-known trader Michael van de Poppe expressed the opinion that Ethereum, as well as Polkadot, Cardano and Chainlink, will soon update price records.
It’s time for #Ethereum, #Polkadot, #Cardano, #Chainlink and more to break all-time highs.
– Michaël van de Poppe (@CryptoMichNL) January 3, 2021
One of the main drivers of Ethereum’s growth is the rapid development of the decentralized finance industry.
The Chronicles of DeFi in 2020: Explosive Growth, Challenges and Barriers for Institutions
Ethereum 2.0 can also positively affect the ETH rate, in which coins are involved in staking. market value of $ 1.7 billion.
Formerly analysts at Messari predicted growing demand for Ethereum from institutions.
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