Ethereum price hits new high above $4,400

On Friday, 29 October, the price of the second-largest cryptocurrency by market capitalization hit a new all-time high, surpassing the $4,400 mark.

In the last 24 hours the asset rose by 8.2%, according to CoinGecko. At the time of writing, ETH was trading at around $4,325. Market capitalization stood at $512.6 billion.

On 27 October, Ethereum 2.0 developer Preston VanLoon announced the successful upgrade of the Beacon Chain network, named Altair.

Finality was uninterrupted and participation dropped as low as 93.3% in the first Altair epoch (exact number to be confirmed). Participation is now above 95%.

— prestonvanloon.eth (@preston_vanloon) October 27, 2021

At the end of September, his colleague Danny Ryan stated that the update would provide support for the primary consensus of light clients, refine the incentives accounting in the network, fix some issues with validator rewards and adjust the level of penalties in line with EIP-2982.

On 21 October, ETH briefly reached $4,375, with the previous high set in May when the prices reached $4,350.

Billionaire Mark Cuban has said that Ethereum has the greatest investment potential among leading digital assets.

Founder Vitalik Buterin has suggested that his project is superior to Bitcoin as a store of value.

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