Ethereum, the second-largest cryptocurrency by market capitalization and price, has finally reached an all-time high price of $2,101 up 6% in a day. The digital currency’s previous price was $2,041 that ETH reached on February 19, 2021.
The digital currency last closed at $1,970 and has been flirting with the $2,000 for over two months. ETH reached its previous all-time high in February but suffered from two corrections. It then dropped to $1,293 before recovering to $1,943 on March 13, and then plunging back to $1,547 in the following days.
Nonetheless, the highly volatile cryptocurrencies market pushed the 2nd largest digital token in the world to its all-time high in few weeks. ETH has posted 4 consecutive green daily candles, if it closes on green today, then it’ll have five. ETH stands at $239 billion market valuation as of this writing. The token is ahead of Binance Coin (BNB) but far below Bitcoin’s (BTC) $1.1 trillion market capitalization.
The Ethereum network – where ETH is the native cryptocurrency – developed to Ethereum 2.0 or Eth2. The development has been hitting the news since then; especially that the update will destroy coins, and possibly making the digital currency grow due to shortage.
Billionaire Mark Cuban is “Owns a lot of Ethereum”
Meanwhile, investor Mark Cuban seems bullish on the future of Ethereum and other cryptocurrencies. The billionaire disclosed that he “owns a lot of Ethereum”.
Cuban said on an episode of “The Delphi Podcast.” That he bought in the “early days” and has broken down his portfolio to “60% bitcoin, 30% Ethereum and 10% the rest.”
“What really changed everything was smart contracts,” Cuban said. “Smart contracts came along, and that created DeFi [or decentralized finance] and NFTs [or nonfungible tokens]. That’s what changed the game, that’s what got me excited, that’s why it’s a lot like the internet.” He said.
“That is more life-like, and so, I have a lot of Ethereum as well,” Cuban said. “I wish I had bought it sooner, but I started buying it four years ago, simply because I think it’s the closest we have to a true currency.”
Meanwhile, Cuban showed his interest in Bitcoin. He said that in 2012, “people said bitcoin is a currency, and I’m like, ‘It’s just not going to work.’ But, the entire time. I said it was a store of value where. If you could get people to believe that it was a better alternative than gold, because of its algorithmic scarcity, the price is going to go up,” he said.
According to Cuban, bitcoin is “a better alternative to gold, and it’s going to continue [to be],” he said. “That’s why I own bitcoin and why I never sold it.”