Ethereum prices have reached their highest-ever levels during the morning of Nov 8. ETH is currently trading up 3.6% on the day and has made more than 10% over the past week.
The world’s second-largest cryptocurrency by market capitalization has hit an all-time high of $4,744 according to TradingView.
Ethereum is now trading above its previous ATH which was $4,632 on May 12. The asset has made a whopping 540% since the beginning of the year, even outperforming bitcoin which has seen a gain of 125% in the same period.
Popular twitter analyst ‘LilMoonLambo’ commented:
“Buying $ETH at $4,600 in 2021 is like buying $BTC at $4,600 in 2017.”
Ethereum’s market capitalization is now $560 billion which is larger than that of Wall Street bank JPMorgan Chase, but below Chinese tech giant Tencent which has $576 billion.
To put this into perspective, just 11 months ago in December 2020, this was the same as the entire crypto market cap.