Ethereum (ETH), the second-largest cryptocurrency by market cap, has just broken above $900 to test price highs last seen in February 2018.
According to data from Coinbase Pro, the price of the cryptocurrency has experienced about 22% over the last 24 hours to record $912 at press time.
Going by data provided by CoinGecko, Ethereum’s market capitalization has now surpassed $100 billion. However, its current price is still about $500 away from the all-time high of $1,432 that was recorded in January 2018.
— Binance (@binance) January 3, 2021
Its current price, $912, means that it has a market cap of $104 billion. This is about a sixth of Bitcoin’s market capitalization; Bitcoin has a market cap of $624 billion, as of the time of filing this report.
Ethereum (ETH) To $1000 Soon
The current outstanding performance of Ethereum (ETH) is starting to raise the hope of seeing the digital token at a $1,000 price level earlier than expected.
Moments ago, a crypto enthusiast popularly known as Ivan on Tech, asked his over 100,000 Twitter followers about how high the price of ETH could surge today. The tweet has since garnered tons of responses.
Ivan on Tech tweeted, “ETHEREUM WILL SNAP TO $1000 TODAY??”
ETHEREUM WILL SNAP TO $1000 TODAY??
— Ivan on Tech (@IvanOnTech) January 3, 2021
AltSeason Is Here
The present situation in the market indicates that altseason is here again. Over the last 24 hours, a number of alternative cryptocurrencies such as Dogecoin (DOGE), VeChain (VET), Litecoin (LTC), among others, have been recording significant uptrends.
DOGE by 70%, VET by 26%, LTC by 17%, and Maker by 15%. Even Tether (USDT), the cryptocurrency that’s supposed to be pegged to the US dollar, hit $1.02 today.