Ethereum, the second-largest cryptocurrency by market capitalisation, rose toward the $2,000 level.
As of writing, consolidation around the key level had continued for seven hours.
On February 20, 2021, the price hit an all-time high just above $2,040. The next day it slipped below $2,000 and has not approached that level since.
The positive mood around Ethereum aligns with a neutral-to-favourable backdrop for the crypto market as a whole.
Bitcoin previously tested the $60,000 psychological level; in the top-10 by market capitalisation over the last 24 hours seven coins rose. Over the seven-day period, Ethereum trails only Polkadot, Filecoin and Binance Coin, according to CoinGecko.
Billionaire Mark Cuban, in an interview on the Delphi Podcast, compared the development of Ethereum’s smart-contracts to the internet boom on the eve of the millennium. He says it “will adapt over time” thanks to developers improving its capabilities.
“I own a lot of Ethereum [30% of my portfolio]. It’s a pity I didn’t buy it sooner, and started doing this only four years ago. I think it’s the closest thing to real currency,” he said.
In March, the Hermez Network developers launched a Layer-2 solution on the Ethereum network based on ZK-Rollups.
The Optimism project, behind the Ethereum Layer-2 solution L2 Optimistic Ethereum (OΞ), refused to launch its mainnet in March.
Analysts at Messari say that the technology Rollups will preserve the advantage Ethereum as it moves to ETH2, despite the emergence of promising alternatives.
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