In the shadow of the Bitcoin hype: Ethereum is approaching all-time high

After Bitcoin, Ethereum is now also taking off. (Photo: Shutterstock / Akarat Phasura)


No time right now?

While the Bitcoin course has broken new records in the past few days, the Altcoins have been holding back a little so far. Ethereum is now heading for the $ 1,000 mark.

Almost three years ago, the Ethereum price had reached its previous record of around $ 1,300. Ethereum has also multiplied its value in the course of the past year, but has so far remained quite a long way from its previous all-time high. Over the course of Sunday, the second largest crypto currency in the world ignited the turbo. From a good $ 750 in the morning it went up to just under $ 1,000 in the evening.

Ethereum is approaching $ 1,000

The Ethereum rate commutes early on Sunday evening according to Bitstamp and Coinmarketcap between $ 930 and $ 950. The $ 1,000 mark may be hit in the next few hours. For comparison: Bitcoin reached a new all-time high at $ 34,500 on Sunday afternoon, after $ 32,500 the day before – in 2017/18 the most popular crypto currency had made it to just under $ 20,000. The course buckled somewhat towards Sunday evening and hovered around the $ 33,000 mark.

The market capitalization of Ethereum has passed the $ 100 billion mark after the price explosion of the past few hours. Bitcoin even has a market capitalization of just under $ 620 billion. The two largest cryptocurrencies by far make up almost seven eighths of the entire crypto market. For a long time the second and third largest player XRP has lost a lot after the allegations of the US Securities and Exchange Commission against inventor Ripple and currently has only ten billion dollars in market capitalization, as does Litecoin.

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Bitcoin and Co – what’s next?

It remains to be seen how the crypto market will continue. There are currently many signs of growth, especially with Bitcoin. Well-known factors such as stronger support from institutional investors and the PayPal payment service are having a positive effect, as are the ongoing corona crisis and financial policy in the USA and the EU. However, a major correction could be pending at any time. A short-term change in the regulation of the crypto market, for example, could stop the upward trend.

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