Ether Hits New All time High of $4,500 on 2nd November 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 $4,500 on 2nd November 2021. At the time of writing, Ether price was trading at $4,510 followed by major cryptocurrencies like Polkadot which also made new all time high of $53.35.
Ethereum market cap hits $533 billion, sharing over 19% of all the total crypto market cap and surpassing big companies like Visa, Bank of America, Alibaba, P&G etc ranked 15th on the world's total assets market cap, according to the companiesmarketcap.
Overall crypto market is looking bullish but the way ether is moving, Crypto evangelist and founder of BEI, Pankaj Tanwar looking for $5,000 if it maintains price above $4,350 as last time it failed to do that. Bitcoin price also reached above $64,000, but interestingly bitcoin dominance also decreasing and the last time in 2017, it went down to around 34% 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.
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 8 Million Ether already staked in the smart contract. Short supply on crypto exchanges and increasing institutions interest also moving the ether price up. After the bitcoin ETF, Ether ETF has also filed in US Security and Exchange Commision by the name of "Vaneck Ethereum Trust" .