Ethereum, the second largest cryptocurrency in terms of market value, reached its highest level in the last two years with $ 695 today, according to data from CoinMarketCap.
Ethereum was at $ 633 today at 4 pm, and a few hours later it jumped to its current price. The increase indicates an increase of 11% in the last 24 hours. The point reached is the highest price of Ethereum since May 2018.
Ethereum’s market cap is currently $ 79.8 billion.
Bitcoin also continued to break records today
Ethereum’s leap comes after Bitcoin. Bitcoin hits top levels today at $ 28,500. About $ 9,000 higher than Bitcoin’s price in 2017 and about $ 4,000 higher than prices observed just two days ago.
Although the price dropped to the mid-$ 27,000 level later today, Bitcoin’s market cap exceeded $ 500 billion.
Ethereum is not at the top
But unlike Bitcoin, Ethereum did not reach its all-time high in this bull run. The summit of $ 1,432.88 took place in 2018.
Interest in Ethereum has also escalated as it hosted a $ 15 billion industry, decentralized finance last summer. DeFi refers to unsupervised lending protocols, exchanges, and synthetic assets. Although some protocols have since collapsed, there have been those offering several thousand percent returns.