2024-02-20 19:11:01
ETH ETH Price hasn’t been this high since the month before the Terra crash.
The price of Ethereum’s native token, Ether, reached $3,000 for the first time since April 2022. This was right before the entire crypto market went into a brutal bear market.
The price of Ether is at a local peak
The price of Ether has topped $3,000, according to CoinMarketCap, up more than 3% in the past 24 hours. During the last week, it has already risen by 13%.
The second largest cryptocurrency last touched the $3,000 mark nearly 22 months ago. A month later, the Terra crypto project collapsed, taking the price of all digital coins and tokens with it. Since then, ETH has struggled to find itself.
A lot has happened with Ethereum
There’s a lot going on Ethereum in the world, and there is more interest in the device than before. Several high-profile Wall Street fund managers have filed instant ETH-based exchange-traded funds (ETFs) with the Securities and Exchange Commission. If approved, traditional investors will be able to access Ethereum in a secure and regulated manner. Big funds such as BlackRock, Grayscale and VanEck are all hoping to get the green light from the regulator soon.
Last month, British multinational bank Standard Chartered forecast that a spot ETH ETF would likely be approved as early as May. Until then, the exchange rate will only get more expensive.
Meanwhile, ETH’s network is currently undergoing a vital upgrade. The development promises that it will be faster and cheaper to use the network.
However, even after the rise, ETH still remains well below the all-time high reached in November 2021. At that time, the price of one Ether was $4,878.
1708492752
#Ethereum #crossed #today