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

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

Ethereum, ready for take-off – It took a long time, 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 increased fourfold… and it may well continue to do so!

New ATH for ETH

New ATH for ETH

Very early this morning, the ETH rate rose sharply to 1,200 euros ($1,459), marking a new ATH for the currency of the first of the smart contract blockchains.

In fact, the price actually soared in just a few hours. It went from 1,085 euros at around 9 p.m. to 1,124 a few hours later at midnight, finally reaching 1,200 euros at 2 a.m.

Since then, the price has fallen slightly, with the current rate at around 1,150 euros.

What are the future developments?

What are the future developments?

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

« Ethereum is the best opportunity in terms of risk/reward among all cryptomoney companies. »

Thus, more and more large investors are taking a stand to defend the potential of the ether (ETH)… to the point where everyone is now making their own more or less serious prognosis, as we can see with Bitcoin. Some people dream of an ETH at $10,500, just like Bitcoin!

Still a long way to go

Still a long way to go

Obviously, 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 astronomical increase in network costs.

Although it is highly likely that ETH will continue to rise in 2021, this increase will only be consistent if Ethereum manages to solve, or at least contain, its scalability problems.

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