By Max - Bitcoin Broker - 01/12/2021
In recent news, the second-ranking cryptocurrency, Ethereum (ETH), appears to be making a speedy recovery after falling below $4000. By the end of December 2021, the price to buy ETH had risen by 7%. The slight increase had put Ether back on the top ten list of best-performing cryptocurrencies. More recently, the cost to buy Ethereum had seen further gains as it pushes close to a new all-time high. The token had reached its high of $4,780 recently before falling back to $4,742 at the time of writing. According to statistics, Ethereum is only a 1% increase away from its record high of $4,850. From the beginning of the year til now, Ethereum has seen an increase of 530% in total. To put it into perspective, at the start of the year, the price to buy cryptocurrency token ETH costed around $736 per coin. The token’s price performance has steadily outpaced crypto giant Bitcoin (BTC).
Part of the dramatic increase over the last year is due to the Ethereum Network becoming a part of the Metaverse. Many investors and fans of the Metaverse have previously predicted this outcome where Ethereum will join the Metaverse. Since Ethereum is such a large ecosystem and houses not only non-fungible tokens (NFTs) but also decentralised applications (DApps), it’s undeniable how perfect Ethereum would be in the Metaverse. Despite the platforms continuous growth, there are a few things that Ethereum struggles to resolve, such as it’s high gas fees.
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