Though Bitcoin (BTC) is continuously grasping the attention of investors and traders with its amazing bullish performance, the world’s second-largest cryptocurrency in terms of market capitalization Ethereum (ETH) is also not coming slow. The price of Ether has broken above $900 to register a significant milestone. With this price rally towards the $900 mark, ETH is now also in the eyes of investors and traders.
A few hours after breaking above the price level of $850, the number one-ranked altcoin crossed the figure of $900 and set a high value for the current year on the 3rd of January. In order to get this breakthrough, Ethereum posted a price rally of more than 20 percent over the course of the last 24 hours.
It is now targeting the $1000 milestone and is on the cusp to achieve it. The price of ETH is only inches away from hitting this price figure. At the time of writing, the price value of ETH is standing at around $970 with a massive price increase of 26 percent in the last 24 hours. With this strong bullish momentum, it is more likely to get success in achieving this breakout very soon. Moreover, it is the only cryptocurrency, at the moment, whose gains are above 40 percent on a weekly basis.
Ethereum has jumped above this price mark for the first time in the past three years. Previously, it was noted to be around this price level back in the month of February 2018. Since that time, it has not reached this milestone until now.
Another significant achievement for the second-ranked cryptocurrency is that its market capitalization has spiked above the figure of $100 billion. At the press time, the market cap of ETH is standing at around $111 billion, according to the data shown by CoinMarketCap. Ethereum has started the year 2021 very well. Cryptocurrency enthusiasts hope that the rest of the year also remains good for ETH.
This price rally posted by Ethereum has come following the price surge of the world’s largest cryptocurrency in terms of market cap Bitcoin (BTC) that has successfully managed to break through the price mark of $34,000 and has recorded a new all-time high.