JAKARTA – The second largest cryptocurrency, Ethereum (ETH) managed to break through 4,708 US dollars (equivalent to Rp. 67.1 million) for the first time last Sunday night based on data reports from Kraken.
In the last few weeks, Ethereum managed to record its new all-time high price (ATH). Previously, ETH reached a price of 4,400 US dollars (around Rp. 62.8 million) on 28 October.
Finder.com has been predicting a rise in Ether since the end of last October where the second crypto after Bitcoin is assessed to be breaking 5,100 US dollars by the end of this year based on a poll of fintech experts. The report also predicts the price of Ether will continue to skyrocket to $50,000 by 2030.
One of the crypto experts, Rahul Rai argues that Etherum is in a fast-paced process of overtaking Bitcoin from the first position. Rahul predicts that ETH will surpass BTC by mid-2022.
Even though the price of Ethereum has skyrocketed, it is also followed by gas fees or higher transaction fees. BitInfoCharts revealed that the average transaction fee for Ethereum was US$41.53 or around Rp.593.110 as of last Saturday. The increase in transaction fees has increased three to four times since last August.
As of this writing, Ethereum is trading at IDR 67,498,645. Meanwhile, its market capitalization is 559.1 billion US dollars based on data from CoinMarketCap.
Coinecko reports that the price of Ethereum has increased by 3.4 percent in the last 24 hours. In one week ETH skyrocketed 10.9 percent. While in the past year Ethereum rose by 993.3 percent.
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