Ethereum (ETH) Skyrockets Above $4000 Just One Week After Breaking $3K

Less than seven days after exploding above $3,000, the second-largest cryptocurrency has skyrocketed to $4,000. Thus, ETH is more than 400% up since the start of the year.

  • CryptoPotato reported on May 3rd as Ethereum surpassed its latest milestone of $3,000. On February 20, 2021, ETH broke above $2K, shortly after breaking the previous January 2018 all-time high.
  • Although this was a significantly impressive performance of its own, keeping in mind that ETH was below $800 at the start of 2021, the asset has only intensified its gains in the following days.
  • After charting consecutive all-time highs above the $3,000 level, ether kept going upwards and tapped another significant milestone at $4,000 just minutes ago. In other words, ETH’s value increased by 33% in less than a week.
  • Despite being over 400% up since the start of the year, some experts predict even further gains for the second-largest cryptocurrency. Mark Cuban, the billionaire investor and owner of the Dallas Mavericks, recently listed three notable reasons why Ethereum could continue to be heading north and outperform bitcoin.
  • As a result of the aforementioned developments, ETH’s market dominance has gone up for a 3-year high at nearly 19%, according to CoinMarketCap.
  • AssetDash informs that Ethereum has entered the top 20 largest assets by market cap. As of now, ETH has a market capitalization bigger than giants like Johnson & Johnson, Walmart, Mastercard, NVIDIA, Bank of America, PayPal, and many more.

ethusd4000ETH/USD, Bitstamp, 1-year chart. Source: TradingView

Publication date: 
05/10/2021 - 06:19

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