Ethereum (ETH) breaks $3000 resistance

Ethereum — world’s second largest cryptocurrency by market capitalization has experienced a breakthrough ! Ethereum (ETH) prices have soared and broken psychological resistance of $3000 setting a record new all time high (ATH).

With this recent price rally, Ethereum (ETH) market capitalization stands at a historic $380 Billion. By this metric, Ethereum has now made an entry into the world’s top 30 Asset class. Infact, by market capitalization, the cryptocurrency has surpassed companies like CocaCola, PayPal, Netflix, and Toyota Motor Comp.

Following COVID-19 financial crunch, Ethereum had witnessed consistent surge throughout 2020. The cryptocurrency entered the new year at a trading price of $760. Because of this latest milestone, the cryptocurrency is up by 300% — Year to Date (YTD). But, definitely, there were a few roadblocks.

Ethereum first broke the psychological barrier of $1000 December of 2018. In the December of the same year the cryptocurrency had collapsed by almost 95% hitting a rock bottom price of $80. It was only in late July of 2020, that the crypto coin topped $400 for the first time in two years. By the end of 2020 Ethereum was trading at $700. By February 2021, Ethereum prices had monumentally surged by 170%. After stalling momentarily in March of 2021, Ethereum broke the $2000 resistance . At the time of this writing, Ethereum was trading at $3,291.

Similarly, Ethereum has surged against Bitcoin. Currently, the ETH/BTC pair is trading at 1 ETH=0.05 BTC. This has led us into yet another three years record.

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