- ETH reaches new heights after the Altair upgrade.
- ETH surged to $4,400.97 at 1:02 a.m. UTC. today.
- Vitalik Buterin and his team have taken several steps to improve Ethereum since July.
Ethereum, the second most valuable cryptocurrency by market cap, regained a positive position in the last 24 hours. Recently, the price of ETH has been on a bullish streak. After dropping to about $1,780 on July 21, it has since climbed 147% to around $4,400.
According to the ETH/USD price indexes on Coinmarketcap, the price of Ethereum (ETH) has risen to a new all-time high (ATH) today, hitting $4,400.97 at roughly 1:02 a.m. UTC.
Notably, Vitalik Buterin and his team have taken several steps to improve Ethereum since July. One of which is the London Hard Fork, which introduced a deflationary burning mechanism to the asset’s fee structure.
Additionally, the successful upgrading of Altair to the Beacon Chain is a key unit in paving the way for Ethereum 2.0’s integration with the mainnet. Alongside the move to a Proof-of-Stake (PoS) consensus method. Thus, the Ethereum 2.0 Altair Beacon Chain update started well, with 98.7% of nodes upgraded at the moment.
Thirdly, decentralized finance (DeFi) and non-fungible tokens (NFT) aided Ether’s success. Moreover, they indicate that Ether demand will continue to rise in the future. Thereby contributing to a dynamic trend in Q4 2021 and may extend to 2022.
Furthermore, the SEC recently approved seven Bitcoin futures-based ETFs to list on the New York Stock Exchange. Therefore, improving the overall market confidence in crypto.
At the time of writing, ETH is trading at $4,329.85,and a $26,832,781,487 trading volume. Certainly, the rise of Ethereum is not stopping any time soon. The supposed Bitcoin alternative will continue to set new records and consequently, close up the gap in price between BTC or even surpass it in the future.