Categories: Market

Ethereum tops $ 4,700 on a new record

Ethereum continued its breakout streak on November 8, breaking above $ 4,700 for the first time in history.

The second largest cryptocurrency currently stands at 4,723 USD, according to Kraken. Ethereum has continuously broken new records for the past week after hitting 4,400. had exceeded USD on October 28th.

The momentum has steadily increased since Finder.com forecast the Ethereum price at 5,100 in its late October report. will exceed USD before the end of 2021. They even predict that Ethereum will be 50,000. will exceed USD in 2030.

Additionally, a number of crypto experts – including crypto hedge fund manager Rahul Rai – believe that Ethereum will overtake Bitcoin by mid-2022.

However, when the price of Ethereum skyrocketed, the transaction costs of this digital currency also skyrocketed to 41.53 USD from November 6th 3-4 times higher than August 2021.

On November 8th, Ethereum’s market capitalization is still half that of Bitcoin’s: Ethereum is 554.5 Billion USD, while the upper limit of Bitcoin is 1,226. achieved Billion USD.

Meanwhile, Bitcoin also rose to 65,612 USD, according to data from CoinMarketCap, just over 1,300. from the all-time high USD. Bitcoin is up 20% in the past month and is up more than 125% since the start of the year.

Ethereum is up over 30% in the last month and up 535% in 2021.

Vu Hao (according to MarketWatch)

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Annie

Championing positive change through finance, I've dedicated over eight years to sustainability and environmental journalism. My passion lies in uncovering companies that make a real difference in the world and guiding investors towards them. My expertise lies in navigating the world of sustainable investing, analyzing ESG (Environmental, Social, and Governance) criteria, and exploring the exciting field of impact investing. "Invest in a better future," I often say. That's the driving force behind my work at Coincu – to empower readers with knowledge and insights to make investment decisions that create a positive impact.