Ethereum Price All-Time High
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| Ethereum Price All-Time High |
The all-time high (ATH) for Ethereum was recorded in November 2021, briefly surpassing $4,860. This represents the highest peak the currency has reached since its launch.
Reasons for Ethereum's record high include:
- The decentralized finance (DeFi) boom has increased demand for the Ethereum network.
- Institutional investment, which boosted confidence in the currency's future.
- The bull market cycle boosted investor sentiment.
- The proliferation of non-fungible tokens (NFTs) relies heavily on the Ethereum network.
- Institutional investment, which boosted confidence in the currency's future.
Ethereum, the second-largest cryptocurrency, reached $4,300 on Binance after breaching the $4,000 barrier the previous day, with analysts attributing this to liquidation and potential altcoin turnover amid the upbeat sentiment in the crypto market.
With interest rate cuts in the United States, a continued influx of cryptocurrency treasury managers, and an agreement with the U.S. Securities and Exchange Commission (SEC) to drop its lawsuit against Ripple, funds have been pouring into altcoins over the past 24 hours.
Thus, Ethereum (ETH) has surged 6.59% in the past 24 hours, surpassing $4,000 for the first time since December. The world's second-largest cryptocurrency is up 25% year-to-date, and 112% year-over-year.