Another all-time high. After Bitcoin mining difficulty charted new frontiers, we have the world’s second biggest cryptocurrency hitting a new milestone in terms of price that has hit a new high.
A jump of 5% Friday extended the winning streak of the cryptocurrency to five days.
It was trading as high as $2074.46, which means that the coin has regained the $2,000 level for the first time since February 20. It also means that the price has rallied around 18% this week.
Ethereum’s latest record comes amid a crypto market frenzy, which has seen Bitcoin and other altcoins experience huge price rises in recent months.
The digital currency has seen massive gains over the last 12 months, having traded below $150 at the beginning of April last year. Ether, the native cryptocurrency for Ethereum has nearly tripled in price this year, to go with more than 1,000% over the last year.
This price increase has come in the wake of Visa deciding to facilitate crypto based settlements on the Ethereum blockchain network. In an announcement, the payments giant said that it was working on a program to settle transactions in stablecoin USD Coin over Ethereum with its partner Crypto.com.
As for the future, Ethereum breaking the $2,000 mark again is a major achievement, as it will probably allow it start using this level as a support as it charts its accent.
The information provided on this website does not constitute investment advice, financial advice, trading advice, or any other sort of advice and you should not treat any of the website's content as such. Crypteligence.com does not recommend that any cryptocurrency should be bought, sold, or held by you. Do conduct your own due diligence and consult your financial advisor before making any investment decisions.
