Ethereum Hits All-Time High of $4,400; Here’s Why
Ethereum, the world's second-largest cryptocurrency, hit an all-time of $4,400 today, during the Asian trading session. The digital currency gained as much as 2.6 percent to $4,400, crossing its previous high of $4,379.62.
Ethereum (ETH), the world's second-largest cryptocurrency, hit an all-time of $4,400 today, during the Asian trading session. The digital currency gained as much as 2.6 percent to $4,400, crossing its previous high of $4,379.62. According to a report from CoinGecko, Ether is now worth about $520 billion. Last week, Bitcoin had also crossed an all-time high of $65,000. Shiba Inu Reaches All-Time High; Becomes 7th Largest Cryptocurrency With Market Cap of $51.4 Billion.
Chris Weston, the Research head at Melbourne-based broker 'Pepperstone' said that Ether looks like a momentum beast at the moment and it would not surprise him if it skyrockets during the London and New York sessions. A recent technical upgrade to the Ethereum network could be the reason that Ethereum has reached an all-time high.
According to Weston, whenever news is released related to technological upgrades, it fuels the price more, and people just start buying. For the past couple of weeks, we have seen rallies in cryptocurrency prices. But it is the meme coin - Shiba Inu, which has shown phenomenal progress. The price of Shiba Inu skyrocketed about 160 percent this week and has become the 7th largest cryptocurrency.
(The above story first appeared on LatestLY on Oct 29, 2021 01:22 PM IST. For more news and updates on politics, world, sports, entertainment and lifestyle, log on to our website latestly.com).