After hitting $3.000 a week ago, ETH added another $1.000 to its value to its latest $4.000 record and continues to grow!
Less than seven days after it soared above $3.000, the second-largest cryptocurrency topped $4.000. Thus, Ethereum has grown at a rate of more than 400% since the beginning of the year.
On May 3rd, Ethereum surpassed its final $3.000 milestone. By February 20th, 2021, the ETH had reached $2.000.
We are talking about a very impressive performance, given that the ETH was below $800 in early 2021.
Although it has risen more than 400% since the beginning of the year, many are predicting even more profits for the second largest cryptocurrency. Mark Cuban, billionaire investor and owner of the Dallas Mavericks, recently mentioned three notable reasons why Ethereum could continue to rise and surpass bitcoin.
- The Ethereum network is able to process more transactions per second.
- One of the main differences between Ethereum and Bitcoin is the ability of the former to support the development of smart contracts. This allows a variety of applications to be set up and operated.
- The growth dynamics of the Ethereum network are also very important.
As a result, ETH market dominance increased to a 3-year high of about 19%, according to CoinMarketCap.
According to data from AssetDash, Ethereum is in the top 15 assets based on its total value currently at $475 billion.