Ethereum is above 2000 dollars once again. The currency has returned to its all-time high value with all altcoin markets looking promising.
Ether (ETH) increased 31% in price to beat the psychological barrier of $2k one more time on April 2nd. The currency is trading at the exact spot price of $2051 at the time of this writing.
The crypto bull market has kept on giving in 2021. The prices of almost all popular coins have hit all-time highs since the start of 2021. Bitcoin, the poster child of cryptomarket, has hit the whopping price of $62K just last month. It has also briefly gone beyond $60K for the second time on April 2. The total market cap of the crypto market is closing in on 2 trillion dollars.
Ether (ETH) is the second-largest cryptocurrency according to market capitalization. The currency is native to the Ethereum platform. This platform is one of the most important for the widespread adoption of cryptocurrency.
Ethereum platform offers the creation of smart contracts which allow users to keep the transaction record safe on the blockchain. Ethereum blockchain uses the proof of work model at the moment. However, this model is creating scalability issues on the platform. Developers are eagerly waiting for Ether’s up-gradation to ETH 2.0 which will offer the proof of stake model. It will make the infrastructure more scalable.
The rise of NFTs in 2021 will also cause growth in the ethereum network. Most of the NFT projects are based on Ethereum. The buyers purchase NFT products using ether.