Unstoppable Ethereum Hits New All Time High of $3,650

Ether Hits New All time High of $3,650 on 8th May 2021

The world's second largest cryptocurrency looks unstoppable and trying to make new all time high everyday. Ether has achieved a new milestone and made a new all time high of $3,600 on 8th May 2021. At the time of writing, Ether price was trading at $3,650

Ethereum market cap hits $422 billion, sharing over 17% of all the total crypto market cap and surpassing big companies like Mastercard, Bank of America, Nestle, P&G etc ranked 20th on the world's total assets market cap, according to the companiesmarketcap.

Source - companiesmarketcap

Overall crypto market is looking bullish but the way ether is moving, Crypto evangelist and founder of BEI, Pankaj Tanwar looking for $3,750 if it will be able to close above $3,600 as last time it was failed to do that. Interestingly Bitcoin dominance also decreasing and last time in 2017 it went down to around 35% which was the peak of 2017 bull cycle. According to him, we might see some more good moves in bitcoin and other altcoins in next two to three months.

Source - coinmarketcap

In 2021, Ethereum has given more returns than Bitcoin. Many factors contributed to this rally but few major factors played the key role. One of the important reasons is the launch of ETH 2.0 where over 4 Million Ether already staked in the smart contract. Short supply on crypto exchanges and increasing institutions interest also moving the ether price up. Recently, after the bitcoin ETF, Ether ETF has also filed in US Security and Exchange Commision by the name of "Vaneck Ethereum Trust" which is also creating new hype in the market.

#Ethereum #ETH #ATH

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