Ether Sets New All-Time High of More Than $3.8K

Ether (ETH), the native cryptocurrency of the Ethereum blockchain, continued its recent torrid run, setting a new record price Saturday of over $3,800. This comes amid speculation the network’s value might soar as more traders warm to the potential of decentralized finance (DeFi) and non-fungible tokens (NFT) on Ethereum.

The new all-time high price of $3,855.40 came less than a week after the cryptocurrency topped $3,000 for the first time. Ether has since given back some of its gains and is now at $3,839.98, up 8.96% over the last 24 hours.
The price of the second-largest cryptocurrency by market cap has quadrupled just this year alone, outperforming bitcoin (BTC), the largest cryptocurrency, which has doubled.
Ether now has market capitalization of $443.8 billion, exceeding that of Johnson & Johnson, Walmart and UnitedHealth.
Should ether continue on its upward trend, it won't be long before its market cap is half that of bitcoin's $1.107 trillion.
The latest price move comes amid signs of growing interest in ether from big institutional investors and Wall Street firms.
Late last month, the Wall Street investment research firm FundStrat predicted ether could surge to $10,000 this year, powered by enthusiasm over DeFi’s growth and advances in Internet-based financial applications.
As for bitcoin, the price of the leading cryptocurrency is nearing $60,000 again, up 2.73% to $59.207.09 at press time.

CoinDesk - Unknown — BTC-ETH spot differential

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