Ethereum broke its absolute record to exceed € 1,200

Ethereum broke its absolute record to exceed € 1,200 in the space of a moment – Why this could be just the beginning

Ethereum, ready for take-off – It took a while, but ETH reached 1,200 euros on several exchange platforms very early this morning – before downshifting at the time of writing this article. In just 3 months, its price will have quadrupled… and it may well continue to do so!

Very early this morning, the ETH share price soared to $1,200 ($1,459), marking a new ATH for the currency by Bitcoin Circuit of the first of the smart contract blockchains.

In reality, the price has soared in just a few hours. It went from 1,085 dollars around 9 pm, to 1,124 a few hours later at midnight, to finally reach 1,200 euros at 2 am.

The rate has since fallen back slightly to the current level of around 1,150 euros.

What are the future developments?

For many, this rise in the price comes as no surprise. Indeed, Ethereum has been enabling the development of decentralised finance (DeFi) for more than a year now.

„The ether is the best opportunity in terms of risk/reward among all cryptomoney companies. »
Statement by David Grider, Analyst at Fundstrat Global Advisors

Thus, more and more large investors are taking a stand to defend the potential of the ether (ETH)… to such an extent that everyone is now making their own more or less serious prognosis, as is the case with Bitcoin. Thus some people dream of an ETH at 10,500 dollars, just like Bitcoin!

Still a long way to go

Of course, Ethereum deserves the enthusiasm and attention of the market. Whether it is the DeFi ecosystem or the deployment of Ethereum 2.0, everything seems to be going well for Ethereum.

However, these successes remain marred by the congestion of the chain and the huge increase in network costs.

Although ETH is likely to continue to grow in 2021, the increase will only be substantial if Ethereum can solve, or at least contain, its scalability problems.