Cryptocurrency: Ethereum blows past $4,000 for the first time
Ethereum’s native cryptocurrency extended its infernal rally on Monday, reaching a new all-time high above $4,000, just one week after breaking the $3,000 milestone.
The second-largest cryptocurrency jumped 5 percent to reach a new record high of $4,134 at 6:05 WAT on Monday according to data from coinmarketcap.com.
In what has been a stunning bull run, ether is now up 450 percent year-to-date, and over $2,100 year-on-year as it was worth $186 just a year ago.
Ether’s market capitalization now stands at roughly $470 billion, tailing the $488-billion stock-market valuation for JPMorgan Chase, the largest U.S. bank.
Also, its market dominance reached 19 percent for the first time since 2018, as more attention has been pulled into the utility crypto.
Some investors are apparently paying up for ether, to the extent that a premium has appeared on the U.S.-based Coinbase exchange over prices quoted on other major exchanges, according to – Ki Young Ju, CEO of crypto data firm CryptoQuant.
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