Ethereum price breaks above the $900 level

As Bitcoin climbs to fresh highs, Ethereum breaks above the $900 level.

The second-largest cryptocurrency by market capitalisation last traded in that vicinity in February 2018.

30-minute ETH/USD chart from TradingView.

Ethereum’s price over the past year has surged by nearly 500% (Bitcoin’s, by comparison, is 366% according to Messari). Yet ETH’s market value remains about 43% below its all-time high, reached 1,085 days ago.

Data: Messari.

Renowned trader Michaël van de Poppe said that Ethereum, as well as Polkadot, Cardano and Chainlink, would soon hit new all-time highs.

It’s time for #Ethereum, #Polkadot, #Cardano, #Chainlink and more to break all-time highs.

— Michaël van de Poppe (@CryptoMichNL) January 3, 2021

One of the main drivers of Ethereum’s ascent is the rapid development of the decentralized finance sector.

DeFi Chronicles in 2020: rapid growth, problems and barriers for institutional investors

Ethereum 2.0 could also support the ETH price, with staking involving coins valued at valued at $1.7 billion.

Earlier Messari predicted a rise in demand for Ethereum from institutional investors.

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