On Wednesday, May 12, Ethereum, the second-largest cryptocurrency by market cap, reached the $4350 level, setting a new all-time high.
As of writing, the digital asset was trading at around $4,337, with a market capitalization of about $500 billion.
On May 10, the Ethereum reached a record high of $4,100.
According to CoinGecko, the cryptocurrency market’s total capitalization approached $2.6 trillion. Bitcoin trades below $60,000.
Yuri Mazur, head of data analysis at CEX.IO Broker, outlined the factors behind Ethereum’s rise to the $10,000 level.
Earlier, Arcane Research analysts said they were confident that the altseason was already in full swing, and outlined the likely reasons for Ethereum’s rise.
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