DailyCoin

Dec 1, 2021

2 min read

Ethereum (ETH) Approaches All-Time High on the Back of 530% Gain in 2021 — DailyCoin

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After receding under $4,000, Ethereum is leading a market recovery of altcoins. Entering December, the second-largest cryptocurrency has gained more than 7%, making it the best performing crypto in the top 10.

Ethereum’s recent gains helped it reach an interday high of $4,780 — just 1% shy of its all-time high of $4,850 recorded on November 10. In the last 24 hours, ETH holds out marginal gains as it now trades at $4,742.

The five days price chart of Ethereum (ETH). Source: Tradingview

While Ethereum’s recent performance is laudable, it pales in comparison to its year-date gains. Since the start of 2021, when ETH traded at $736, Ethereum has gained more than 530%, outperforming the world’s largest crypto, Bitcoin, which has doubled its price in 2021.

The year-to-date price chart of Ethereum (ETH). Source: Tradingview

Ethereum’s recent gain is partly driven by the prospects of its blockchain platform forming a part of the metaverse. Ethereum, which is home to both non-fungible tokens and decentralized applications (dApps), has been tipped to play an important role in the future of the metaverse.

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