Breaking Ethereum Breaks 2,000 Mark to Set New All-Time High

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In Brief
  • The price of Ethereum has surged above 2,000.

  • Multiple factors apparently helped increase its value.

  • Lately, ETH has seen a heightened interest from industry stakeholders.

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Today, ethereum’s (ETH) price went past the $2,000 mark before hitting a new all-time high (ATH).

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Earlier today, ethereum’s price hit a new all-time high above $2,083. The token price has slightly dropped since to trade at around $2,056, at press time.

Multiple factors could be credited with the ethereum price surge. This week, several high-profile individuals publicly endorsed the Ethereum blockchain. One of the most outspoken voices in the movement was Mark Cuban. He recently participated in a podcast interview to talk about his investment portfolio where he mentioned: 

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“Smart contracts came along, and that created DeFi and NFTs. That’s what changed the game. That’s what got me excited. That’s why it’s a lot like the internet.”  

He went on adding that he believes ethereum is the closest thing to a true currency. 

Currently, non-fungible tokens are generally minted on the Ethereum blockchain. Therefore, most of the transactions in the NFT market are being done in ETH.

The second largest cryptocurrency has also seen a heightened interest from traditional payment processors, with Visa announced it would be settling transactions for USD Coin using Ethereum.

Anchorage, the United States’ first federally chartered digital asset bank, will facilitate the pilot program launched with Crypto.com.

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Anirudh works in the financial markets along with being a cryptocurrency and blockchain enthusiast. He has a Master’s degree in Finance. Apart from work, he is a music connoisseur and likes to play the drums.

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