Where Bitcoin (BTC), the world’s biggest cryptocurrency, is making efforts for retesting its all-time high value, the second-largest crypto in the world, Ethereum (ETH), on the other hand, has made a new all-time high. Ethereum broke the key level of $1500 to record its new all-time high.
The world’s second-largest blockchain network Ethereum’s native cryptocurrency Ether recorded a potential rally on the 2nd of February, which sent the price value of ETH to a new peak level. ETH’s price surged high by nearly 15 percent in the last 24 hours to break through the $1500 level.
According to the data from CoinMarketCap and Trading View, the price of ETH reached $1542 on Tuesday. This is the new all-time high value for the second-ranked digital currency. Moreover, it is the first time ever in the complete history of Ether that the coin has hit this price figure.
The ending quarter of the previous year set the uptrend for Ethereum. Though it witnessed some price crashes during this time period, it still has managed to retest its previous all-time high ($1432) and make a new one. Most of the crypto analysts have forecasted that Ether will likely outperform the leading digital currency Bitcoin in the year 2021. If we look at the current performance of ETH as compared to BTC, the prediction of these analysts seems to be coming true. However, it is still the beginning of the year, and there is a lot to happen in the rest of the year.
Ethereum, as of the time of writing, is trading up by more than 8 percent in the past 24 hours while its price is holding at around $1514, as per the data from CMC. On a weekly basis, it is up by nearly 13%. It is now aiming at retesting its ATH in the short-term case scenario, and then it is likely to move ahead towards the figure of $1600.
Meanwhile, the total value of ETH locked in the deposit contract of the Ethereum 2.0 upgrade has hit a new all-time high of $4,099,368,001.66 while rising from the previous ATH of $4,057,383,552.67, according to the data shared by Glassnode.