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Wednesday, March 22, 2023

Ethereum Surges Above $1400, Hits Record High

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While Bitcoin has been grabbing headlines at higher and higher record highs, Ethereum (ETH) has been quietly playing catch up and overnight rallied back above $1400, topping the record highs from January 2018.

ETH traded at $1440 this morning, topping the $1420 previous high.

Cointelegraph reported, the Ethereum network now settles around 28 percent more transactions daily than Bitcoin(BTC), but remains plagued by high fees as a result of increased usage.

In a dedicated analysis released this week, popular investment strategist Lyn Alden compared Ethereum as a concept to Concorde, arguing that it may yet fail to reach the mainstream in a similar way to the supersonic airliner.

“Maybe Ethereum will iterate until it finds a sustainable place for itself,” she wrote.

“On the other hand, Ethereum could end up being weighed down by its own complexity and lack of broad economic use, like the Concorde.”

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