The markets this week have been recovering after struggling over the weekend. While Bitcoin gained over 15% on Monday, Ethereum has set a new record hitting its all-time high on Wednesday. The second leading cryptocurrency is up by over 7.5% and at the time of publishing it is exchanging ownership at $2719 USD.
Ethereum’s Ether tokens are expected to go up in coming days as Ethereum is already experimenting and implementing innovative PoS protocols to solve the exorbitant gas price issues. Also, the much awaited Ethereum 2.0 is expected to help overcome the congestion issues on the Ethereum network.
Up By Over 270% In 2021
Ethereum has been reported to be the highest gainer in 2021, amongst the top cryptocurrencies by market cap. Eth prices have risen by over 270% since January out performing bitcoins. The rise in Ether prices can be attributed to the buzz around Eth 2.0. Also, it is an indicator of the fact that the investors’ confidence in Ethereum’s ability to adapt and evolve has only grown stronger.
It is expected that the ETH prices will surge further. Experts find it hard to disapprove opinions that claim Eth to hit $5000 by the end of the year. However, given the fast changing dynamics of the crypto market, it would be too early to jump to conclusions.