Ethereum Hits New All-Time High of $4,800, Now eyeing for $5,000
The world’s second-largest cryptocurrency appears unstoppable, with new all-time highs being set every day. On November 8, 2021, Ether reached a new high of $4,800, setting a new all-time high. The price of Ether was $4,849 at the time of writing.
According to CoinMarketCap, Ethereum’s market cap has reached $572 billion, accounting for over 19.5 percent of the total crypto market cap and surpassing major corporations such as Visa, Bank of America, Alibaba, and others. Ethereum is ranked 13th in the world’s total assets market cap.
Overall, the crypto industry is bullish, but given the direction in which ether is headed, crypto experts expect $5,000 if the price remains over $4,840. If Ether can break and remain over $5,000 in a weekly candle, experts expect it to reach $6500 by the end of the year. Bitcoin’s price also rose above $68,000, but bitcoin’s dominance fell, reaching about 43.6%. In the next two to three months, they expect to see further positive movement in bitcoin and other cryptocurrencies.
Ethereum has outperformed Bitcoin in terms of returns as of 2021. Many reasons contributed to the surge, but a few important ones were crucial. One of the most crucial reasons is the launch of ETH 2.0, which has already attracted almost 8 million Ether to the smart contract. The Ether price is also rising due to a lack of supply on crypto exchanges and increased institutional interest. After the bitcoin ETF, the “Vaneck Ethereum Trust” has been registered with the US Securities and Exchange Commission.
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