Ethereum Reclaims $4,000 for First Time Since May

[Jaya60]

Ethereum has tipped back over the $4,000 mark for the first time in five months, amid a surging crypto market. Ethereum, the world’s second-largest cryptocurrency by market capitalization, has hit $4,000 for the first time since May 14. Its current price is just over $4,000, an increase of 4% in the past week.

The latest bull run is the result of a second wind for non-fungible tokens (NFTs), DeFi protocols and the United States’ first Bitcoin futures ETF. Today, the price of Ethereum stands at its highest since May, around the same time that Bitcoin hit its previous all-time high of $64,804.

To reach its previous all-time high, Ethereum doubled in price in less than a month, but the price plunged as quickly as it had surged. By May 23, Ethereum was back down to $2,110. The coin then spent several months bouncing between $2,000 and $3,000 before finally breaking through $3,000 in early August.more information