Ethereum hits new all-time high at $4762

Ethereum managed to reach a new all-time high, adding more than 10% in price over the past week, and its market capitalization in a day grew by 3.42% to the level of $562 billion.

The second-largest cryptocurrency maintains the growth rate of its “ancestor” in the person of bitcoin and renews its May record high of $4,632 with a new peak at $4,762. According to CoinMarketCap, this figure was recorded in the market about 7 hours ago. Ethereum is now worth $4,741 on the Binance exchange.

Since the beginning of the year, the asset has shown an increase of 540%, surpassing Bitcoin, which grew over the same time period by “only” 125%. At the same time, its market capitalization already surpasses that of one of the largest Wall Street markets in the person of JPMorgan Chase $496.6 billion and is close to the level of the Chinese tech giant Tencent $576 billion.

A little less than a year ago, in December 2020, the total capitalization of the digital currency market was just over $570 billion, and today, in parallel with the slow but steady growth of the main coins of the market, it has set a new record $3 trillion. Although at the time of this writing, this figure has adjusted to $2.87 trillion. Then, in December 2020, Ethereum's market capitalization was below $70 billion.

In addition to the price record, Glassnode analysts recorded another one in the form of the Ethereum hash rate reaching new peaks. It rose from the previous high of 876 TH/s to 1 EH/s. However, unfortunately for miners, the difficulty of mining the coveted ETH tokens has grown along with this. Glassnode also stressed that ETH continues to leave centralized exchanges. So, over the past 7 days, almost $6.5 billion dollars in Ethereum equivalent came to the exchanges. Lost $8 billion, resulting in a loss of $1.5 billion.

Securing the victorious sixth Ethereum on the planet was the interest of investors in futures contracts on ETH. According to Bitfinex metrics, it has surpassed a new record high for the coin at $2 billion.

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