Ether Tops $4,700 For First Time

Ether, the world’s second-largest cryptocurrency by market capitalization reached a new record high after hitting $4,700 for the first time.

Ether, which runs on the Ethereum blockchain, traded at $4,737 on Nov. 7 just after hitting a series of all-time highs last week since it first reached $4,400 for the first time on Oct. 28.

The latest Ethereum prices came along with various surges in the cryptocurrency market, with Bitcoin reaching its own all-time high of $66,974 last month.

The price of ether went up 31 percent from last month, while bitcoin pushed by 20 percent.

Investors have been bullish as the cryptocurrency surge continues. A recent report by predicted that ether will hit $5,100 by the end of 2021 and that the coin will be worth $15,364 by 2025.

Ether’s market capitalization is at $554.5 billion as of Nov. 7 — the second largest to $1.226 trillion for bitcoin.

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