Home Markets ETH Could Soon Soar to $4,000

ETH Could Soon Soar to $4,000

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Ethereum price surged to a new all-time high as investors continued to pile into the currency. ETH rose to an ATH of $3,530, bringing its total market capitalization to more than $378 billion. This made Vitalik Buterin, one of the co-founders of the network a billionaire.

Why Ethereum has rallied: There are several reasons why ETH price has rallied. First, there is a greater user adaption of the network as more developers rush to build decentralized apps. While the blockchain is often criticized for its higher cost and slow speed, it has emerged as the preferred network. 

Second, there is great institutional purchases of Ether. Indeed, a recent study published in CoinTelegraph found that institutional investors hold ETH worth more than $58 billion. This trend could gain steam as investors realize the importance of ETH. Indeed, in an interview yesterday, Jim Cramer said that he had bought some Ether.

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