Ether, the native token of the Ethereum blockchain, climbed past its November 2021 peak of about $4,891 on Friday, setting a new all-time high of just over $4,900, according to price quotes cited by traders on digital-asset platforms
Ether, the native token of the Ethereum blockchain, climbed past its November 2021 peak of about $4,891 on Friday, setting a new all-time high of just over $4,900, according to price quotes cited by traders on digital-asset platforms. The move capped an intraday rally of roughly 13% and left the cryptocurrency less than 1% away from the psychologically significant $5,000 level.
The breakout ends a 1,375-day stretch without a record and marks the first time a major digital asset other than Bitcoin has set a fresh high in the current market rebound. Trading-desk commentary pointed to broad risk appetite across alternative tokens, with several strategists warning that Ether’s performance could set the tone for a wider “alt-season” if momentum carries the token decisively above $5,000.
Fundstrat Global Advisors co-founder Tom Lee said he sees a “very high probability” that Ethereum’s market value will eventually surpass Bitcoin’s, underscoring the growing investor focus on the blockchain’s expanding use in payments, decentralized finance and tokenized assets. For now, traders are watching whether weekend volumes can sustain the rally and convert the latest milestone into a durable new support level.
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Source: https://thedefiant.io/news/markets/ethereum-breaks-2021-record-edges-toward-5000-milestone-5260d7f8
