New attempts at new all-time highs for Ethereum with the new news on Ethereum 2.0, the notable application developments in DeFi and finally the news on the Facebook metaverse support the purchases. There are also no overbought situations, in support of a possible continuation of the rally. The pivot levels supporting the next levels are to be monitored ”underline the analysts of eToro.
Ether, the second largest cryptocurrency in the world, has risen to a record level above $ 4,400 (+ 6.5% in the last 24 hours) thanks to a bullish sentiment deriving from an update of the Ethereum network and the recent rally of the rival Bitcoin reached a new all-time high.
Ether is the foundation of the affiliate Ethereum Network, the dominant blockchain used for thousands of decentralized applications. The system received an additional boost this week after a successful update designed to make it faster and more energy efficient. Other smaller tokens too, including Binance Coin e Solana, have gained ground but Ether is now worth about $ 520 billion, according to data from CoinGecko.com.
Ether has made Bitcoin by far over the course of this year with a sixfold increase between the increased interest of retail and institutional investors in the crypto space. Bitcoin rose about 40% this month to hit a record high of nearly $ 67,000 after the debut of the first Bitcoin-related exchange fund in the United States.