This Friday was definitely a good day for ETH investors and enthusiasts, as the second cryptocurrency, in terms of market cap, managed to break its previous all-time price record, $2,041, reached on February 19, and hit a new high, of $2,081.
Ever since February, ETH went through two corrections on its daily chart, registering a higher low on the second correction.
Establishing its position
Currently, the token is listed on CoinMarketCap as the second-largest asset by market cap, with $239 billion in holdings at the time of publication. And it’s been a while since it holds this position, just above Binance Coin (BNB) but very far away from Bitcoin, which now has a total market cap of over $1.1 trillion. Let that sink in for a few moments.
With the current growing interest in cryptocurrency, following a period of stagnation, it will be very interesting to follow Ethereum’s evolution, especially considering that it has seen a big number of headlines over the last months.
The future looks bright for ETH
The transition to Ethereum 2.0 – or Eth 2 – as well as the token’s role in decentralized finance attracted new investors who wanted to make a profit. Eth2 is aiming to scale the Ethereum network and completely move its blockchain over to a proof-of-stake algorithm, over the next months.
Finally, we should mention that ETH’s current upward price trajectory comes in line with what we can call an overall bullish crypto market tendency, which saw Bitcoin trading above $60,000.