Ethereum Hits New All-time High

A 14% rise since the opening of the Asian trading session on Monday makes Ethereum one of the best performing digital assets to date. According to TradingView, ETH has hit an all-time high at $1,480.

Ethereum prices have doubled since early 2021 and are up nearly 800% compared to the same period last year. At the time of writing, ETH is valued at $ 1,415, which means an increase of almost 7 percent in the last 24 hours. Market capitalization has also skyrocketed and has made Ethereum one of the 100 largest assets in the world by market capitalization.

Earlier, a strategist at the investment company Fundstrat, David GRIDER, said with confidence that the main competitor to bitcoin could rise in price eightfold. The analyst named the main reasons for the continued growth of ETH: the growing popularity of the decentralized finance (DeFi) sphere and the upcoming update of the altcoin network to the second version.

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