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Ether continues its record run, tops $4,700 for first time

Ether continued its record-setting rally Sunday, topping $4,700 for the primary time.

The world’s second-largest cryptocurrency by market cap, which runs on the Ethereum blockchain, was just lately at $4,708 on Sunday night time, based on Kraken knowledge. Ether
ETHUSD,
+1.31%

has steadily notched a string of all-time highs over the previous week and a half, because it topped $4,400 for the primary time Oct. 28.

Momentum has been swinging larger since a Finder.com report in late October predicted ether’s worth would high $5,100 by 12 months’s finish, based mostly on a ballot of fintech consultants. The identical report predicts ether to high $50,000 by 2030.

Moreover, numerous crypto consultants, together with crypto hedge-fund supervisor Rahul Rai, imagine ether is on tempo to overhaul bitcoin because the No. 1 cryptocurrency across the center of 2022, an occasion dubbed “the flippening,” Business Insider reported final week.

Nonetheless, as ether’s worth surges, so are transaction charges — BitInfoCharts found the typical transaction charge for ether was $41.53 as of Saturday, about three to 4 instances what they have been in August.

As of Sunday night time, ether’s market cap was nonetheless about half of bitcoin’s: $554.5 billion for ether, to $1.226 trillion for bitcoin.

Bitcoin
BTCUSD,
+3.62%
,
in the meantime, rallied Sunday as effectively, final at $65,612, based on Coindesk knowledge, about $1,300 shy of its all-time excessive of $66,923, set in October. Bitcoin is up about 20% over the previous month, and has soared greater than 125% 12 months thus far.

Ether is up 31% over the previous month, and has skyrocketed a whopping 535% in 2021.

https://www.marketwatch.com/story/ether-continues-its-record-run-tops-4-700-for-first-time-11636334166?rss=1&siteid=rss | Ether continues its file run, tops $4,700 for first time

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