Virtual currency investors have become extremely popular with the Ethereum cryptocurrency in recent weeks. It broke the $3,000 mark for the first time in its history in Monday trading, 10 percent stronger in a single day.
Even before the weekend, the market value of the Ethereum cryptocurrency was slightly above $2,700. It strengthened by about $200 on Saturday and Sunday to take a breather on Monday for strong growth. It stopped at $3,339, the highest level in history. At the same time, Ethereum climbed above the 3,000 marks for the first time in its existence.
Ethereum has increased by less than two-thirds in the last month. Since the beginning of the year, it has appreciated 4.5 times. At the same time, it is the market with the second highest market capitalization after Bitcoin. Investors now have nearly $380 billion deposited in Ethereum, more than the market capitalization of, say, Bank of America.
And it seems the cryptocurrency hasn’t said the last word yet. Fundstrat, an analytics company, confirmed at the end of April that it had set its target price for Ethereum at $10.5,000 from January this year. According to analysts, Ethereum will continue to outperform Bitcoin in its performance. The global cryptocurrency market is projected to reach up to $5 trillion in market capitalization.