TL;DR Breakdown
- Ethereum hits new ATH at $4,774.
- Solana also hit new ATH over the weekend at $260.
- Analyst predicts ETH to hit $5,000 before end of 2021.
World’s number one alternative cryptocurrency, Ethereum, has again enforced its dominance as its value surged to an all-time high price at $4,774 (CoinGecko). It’s previous all-time high price was $4,634, which it touched sometime last week.
Ethereum’s run to a new ATH is not surprising as the coin has been on a record run since October. It started by climbing to $4,416 on the 28th of October, which was said to be triggered by predictions that the Altcoin would surge above $5,000 before the end of the year.
Its recent ATH price comes on the heels of report that Bakkt, a crypto firm that newly debuted on the New York Stock Exchange, announced that it is expanding its crypto offerings to include Ethereum.
Ethereum killer also hit new ATH
Solana, primed to be Ethereum killer, also hit a new ATH at $260 over the weekend, Cryptopolitan reported. The Altcoin has been on a price tear, gaining almost 90 percent in the past 30 days to peak at it’s been ATH.
SOL surge brought it to become number 4 cryptocurrency displacing Cardano for the spot. This price action follows an announcement last week that Solana Ventures, crypto exchange FTX and Lightspeed Venture Partners are partnering to invest US$100 million on Web 3.0 gaming projects built on the Solana blockchain.
Analyst speak on ETH, BTC price action
Ben Caselin, head of research at crypto exchange AAX said that ETH price surge follows Bitcoin as the number one coin nears its own all-time high at $67,000.
What we’re currently seeing with Ethereum, we cannot separate from what we see with Bitcoin — we’re going through a period of kind of accumulation, which is interesting at these price levels.”
“Once supply shock kicks in, I think within this month we can see Bitcoin go above $80K, and I think actually Ethereum can touch US$6K by the end of the month.”
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