ETH breaks all-time high amid fresh price surge

Published at: April 2, 2021

Ethereum, crypto’s second largest asset by market cap, has broken its previous all-time price high near $2,041 , set on February 19, 2021.

Ethereum (ETH) hit a record price high of approximately $2,081 today, according to TradingView data. ETH trades near $2,067 at time of publication.

Since its February high, ETH has corrected twice on its daily chart, posting a higher low on the second correction. In the days after its $2,041 summit, the asset dropped down to about $1,293. ETH recovered up to about $1,943 by March 13 before falling back down near $1,546 in subsequent days.

Since the drop down near $1,546, ETH has posted four consecutive green daily candles. Today will be the fifth, if it closes green.

CoinMarketCap lists ETH as the second largest asset by market cap currently. Holding a market cap near $239 billion at time of publication, ETH sits comfortably in second place above Binance Coin (BNB), but a long way from Bitcoin’s (BTC) $1.1 trillion total valuation.

Ethereum has seen a large number of headlines over the past several months, in line with its transition to Ethereum 2.0, or Eth2, as well as its role in decentralized finance, or DeFi. Eth2 looks to scale the Ethereum network and fully transition its blockchain over to a proof-of-stake algorithm in the coming months.

ETH’s upward price trajectory has also come in line with an overall bull market for crypto, in which BTC has traded above $60,000.

Tags
Ethereum
Cryptocurrencies
Defi
Ether Price
Related Posts
Analysts say this key metric suggests an altcoin season is at hand
Bitcoin’s (BTC) 65% recovery from sub-$29,500 on July 20 to a swing high of $48,200 on Aug. 14 took less than a month and helped bring fresh bullish momentum back to the crypto market and to traders who were dreading the prospect of another prolonged bear market. Currently, the BTC rally has stalled out near the $46,000 price level, and this phase of sideways trading is giving altcoins an opportunity to step forward. As shown in the chart below, the total market capitalization of the altcoin market has risen 80% since July 20. Meanwhile, the Bitcoin dominance rate is down …
Nft / Aug. 17, 2021
Analyst says Bitcoin could see ‘a smaller drawdown and a quicker bottom'
The cryptocurrency faithful got a reprieve from recent market struggles thanks to a rally in decentralized finance (DeFi) tokens and Dogecoin (DOGE) on June 2. A bit of a breakout in the price of Ether (ETH) and Bitcoin (BTC) may have also lifted sentiment, but at the moment, the top-ranked digital assets are still meeting pushback at key overhead resistance levels. Data from Cointelegraph Markets Pro and TradingView shows that the price of Bitcoin rallied 7.3% from a low of $35,645 on June 1 to an intraday high at $38,250 on June 2, and Ether saw a similar-sized gain of …
Bitcoin / June 2, 2021
Celsius says it tipped in 25,000 Ether to help launch Ethereum 2.0
The highly anticipated launch of Ethereum 2.0, or Eth2, is scheduled to take place next week. Specifically speaking, Eth2’s proof-of-stake blockchain known as “the beacon chain” has been confirmed to run alongside the Ethereum network starting Dec. 1. Although some members of the blockchain community remained skeptical about a Dec. 1 launch date for the beacon chain, an impressive 524,288 Ether (ETH) from 16,384 validators has been deposited into the Eth2 contract. As such, there is now assurance from The Ethereum Foundation that Eth2’s beacon chain will indeed go live as expected. While impressive, it’s important to note that additional …
Blockchain / Nov. 24, 2020
Altcoin Roundup: Analysts give their take on the impact of the Ethereum Merge delay
The rollout of Ethereum 2.0, or Eth2, includes a transition from proof-of-work to proof-of-stake that will supposedly transform Ether (ETH) into a deflationary asset and revolutionize the entire network. The event has been a trending topic for years and while anticipation for “The Merge” has been building over the past couple of months, this week Ethereum core developer Tim Beiko informed the world that “It won’t be June, but likely in the few months after. No firm date yet.” Delays in Ethereum network upgrades are nothing new and so far, the immediate effect on Ether’s price following the revelation has …
Markets / April 15, 2022
Crisis in crypto lending shines light on industry vulnerabilities
The crypto market has entered a bearish phase as prices of major cryptocurrencies have fallen to a four-year low. The current downturn in the crypto market has driven several crypto firms to go out of business, while many have made severe job cuts to remain afloat. The crypto market crisis began with the Terra debacle that saw $40 billion in investors’ money vanish from the market. At the time, the crypto market showed good resistance against such a massive collapse. However, the after-effects of the collapse had a greater impact on the crypto market, especially crypto lending firms, which many …
Ethereum / June 23, 2022