Ethereum (ETH), the second-largest digital currency in the market, has experienced a large price growth recently and has hit a point at which it has not been since September of last year. The currency has encountered the largest constant growth since the crypto price spikes in April of last year and eventually, the psychological barrier of 200 USD has been broken.
Based on Tradingview.com, a couple of hours ago Ether reached 207 USD, which is the highest value of the crypto asset in the last 19 weeks. Considering the last day, the Ethereum price has increased by nearly 9 percent as the strength of the currency’s price grows.
Compared to the beginning to January 2020, the price of Ethereum has earned an enormous growth of 58 percent outperforming both BTC as well as XRP, the first and third largest crypto assets, by a large percentage. There have also been gains in the markets of crypto products that have been heavily based on the Ethereum system and the interest rates are attracting the attention of a large number of investors to the Ether ecosystem.
Michael Novogratz of Galaxy Digital has noticed this shift and stated in a tweet that the higher prices of crypto have made him very bullish on the market. He specifically highlighted the growing prices of Ethereum as well as Bitcoin. He said that once Ether hits 200 USD and Bitcoin reaches the long-awaited 10,000 USD mark, the market will go up rapidly.
These two are extremely important price levels for the market and once both are achieved, the gains will increase exponentially. This is even more important for Ether as its current price is even now 86 percent less than the all-time high of ETH. All in all, the gains of the crypto market on the last day have been around 13 million USD with Altcoins being the leaders.