Ethereum Price Surpasses $1,000 – Will the rally last?

While Ethereum Price Surpasses $1,000, investors are not surprised – the cryptocurrency has been steadily rising in value in the course of the last two weeks. How will the native token of Ethereum network trade in the near future?

5 January, AtoZForex The value of Ether, the native token of Ethereum network, has surged above $1,000 yesterday, marking a new all-time high. The digital currency has been steadily climbing for the past week.  As of the moment of publishing, the price of one Ether stands at $1,057.90.

Ethereum Price Surpasses $1,000

The cryptocurrency has been enjoying an extensive rally over the past year. In fact, the value of Ethereum has appreciated almost 13,000% since the beginning of 2017.

Ethereum is widely used to pay for operations that are taking place on the decentralized application platform with the same name. The cryptocurrency has proven its strength, which is seen by the industry experts as a development that boosted its price.

Some industry insiders believe that Ethereum is one of the top crypto assets in the existing cryptospace. Other say that despite the recent price spikes in ETH, they feel that this digital currency is slightly undervalued.

Will Ethereum crawl back to the second place?

Just some days after reaching the $900 level, Ethereum has topped $1,000 for the first time in history. The cryptocurrency has been trading below $900 for two days before going on a rally this Wednesday. Yesterday morning, the price of Ethereum surpassed $1,000.

Yet, despite the increase in its price, Ethereum still remains on the third place of the list of top cryptocurrencies by market cap. As of the moment, the total market capitalization of Ethereum stands at $102,385,808,218.

Moreover, this Thursday, the cryptocurrency market has hit another record. The overall cryptocurrency market cap has crossed $770 billion. The biggest cryptocurrency by market cap, Bitcoin, has been trading more or less sideways over the past week. The prices of BTC were ranging between $13,000 -$15,000. Now, Bitcoin is changing hands at $15,423.90.

As a matter of fact, BTC’s dominance in the cryptocurrency market cap is just below 33%, according to the data from Coinmarketcap.

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