Ethereum has finally succeeded in pushing away the bearish sentiment that was revolving around the world’s second-largest digital currency for the past few days. It has posted a new all-time high by breaking above the figure of $2700. It is now looking to break the next crucial milestone of $3000.
Recently, the whole cryptocurrency market had to undergo a price crash which led many of the major cryptocurrencies to suffer price losses, including the world’s two biggest crypto assets, Bitcoin and Ether, respectively. Both of these cryptocurrencies turned bearish following this price crash.
Ethereum has, however, managed to come out of the bearish zone with its constant efforts. Earlier today, on the 28th of April, the price value of Ether touched the mark of $2731, which is the new all-time high (ATH) value of the second-major cryptocurrency. In order to reach this price level, ETH price gained around 4 percent within the duration of one day.
As of now, the price value of Ether is slightly down from its all-time high figure, but it is still in great bullish momentum. At the time of writing, the price value of Ethereum is standing at around $2718 with a positive price increase of 3.20 percent in the last 24 hours, according to the data from CoinMarketCap. Ether is now looking at breaking above the next milestone of $3000 in the short term case scenario.
CMC data further shows that the native digital currency of the world’s second-biggest blockchain network Ethereum has also seen a major spike in its market capitalization, which has helped the coin to stand closer to the online payments giant PayPal, whose market cap is standing at around $319 billion which means that the second-ranked digital currency has got the chance to overtake the payment giant. At the time of writing, the market capitalization of Ethereum is revolving around the figure of $314 billion, which means it is standing very close to achieving this milestone.
If Ether continues to rally higher and doesn’t face a price crash, then there is likely a chance that the coin might be able to surpass PayPal in terms of market capitalization.