What’s Behind Ethereum’s Massive Price Gains – The Motley Fool

What’s Behind Ethereum’s Massive Price Gains – The Motley Fool

Ethereum (ETH) has gained almost 30% this week, taking it close to its May all-time high of over $4,360. Today it broke the $4,000 barrier for the first time in three months, and many analysts were optimistic that the price could increase even further.

There are several factors driving Ethereum’s growth, from a surge in demand for non-fungible tokens (NFTs) to an overall rally in cryptocurrency prices. Let’s look at some of the reasons in more detail.

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1. NFTs are booming

NFTs are a type of unique digital collectible. They can be a piece of art, like Mike “Beeple” Winkelmann’s work called “Everydays: The First 5000
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