New highs for Ethereum

November 08, 2021

The crypto market started the week on a positive note

The world second largest cryptocurrency – Ethereum – went up more than 4% on Monday, hitting an all-time high above $4,700. The crypto is undergoing a significant upgrade, which investors hope, will make the network faster and more environmentally friendly. The latest step in its network came last month when an upgrade called Altair went live.

At the same time, Bitcoin climbed 7% to $66,250, slowly but surely decreasing from the $66,900 record set in late October. Bitcoin’s movement followed the listing of the first US bitcoin futures exchange-traded fund.

At that time, crypto enthusiasts praised the move as a sign of growing acceptance for digital assets on Wall Street.

Moreover, Australia’s biggest bank announced it would offer crypto trading to customers. Also, last week, the New York Mayor-elect, Eric Adams, revealed that he will receive his first three paychecks in bitcoin and signaled his intention to make the city the “center of the cryptocurrency industry.’

Since the beginning of the year, Ether has been up around 59%, while Bitcoin gained approx. 51%.

Source: cnbc.com, reuters.com

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