Ethereum has reached a new all-time high, hitting $2,713 on the 28th of April. The second-largest crypto by market cap hit the new record high in the early hours of trading.
Before reaching the milestone, ETH has been pulling in significant gains, jumping more than 11% in about 24 hours.
ETH has surged further by 4.86% at press time and currently trades at $2,730.26 according to CoinMarketCap data. With the new achievements, Ethereum now stands at a market valuation of more than $316 billion.
However, despite the gains, the crypto asset has declined 1.56% in its 24 hours trading volume.
Bitcoin remains the king coin with its trillion-dollar market cap. Despite this, Ethereum has recorded more gains than BTC. ETH’s year-to-date growth is up over 200% compared to Bitcoin. Ethereum has advanced 258% since 2021 began, while Bitcoin has added 90%.
Bitcoin currently trades at a 0.24% increase to $54,875.35.
According to crypto analysts, the surge in ETH can be attributed to the European Investment Bank (EIB) plan to launch a digital bond sale on the Ethereum network.
The head of revenue at SFOX, Danny Kim, also commented on the spike. He said:
“The amount of Ethereum sitting on exchanges continues to drop lower and has been the lowest in the past year. With less supply on exchange available, there’s less likely a chance of a major sell-off.”
Images Credits: Pixabay
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