- On October 29, ETH reached an all-time record value of $4.416.05
- Over the last few months, the token has seen significant value increases.
- It is a sign of a bullish trend and could possibly reach a higher value in the future.
Ethereum ETH/USD remains the number two cryptocurrency token in terms market capitalization.
It is an open-source, blockchain-based platform. This platform is being used constantly due to its smart contract functionality. It powers decentralized apps (dApps), nonfungible tokens(NFTs), as well as decentralized finance (DeFi).
The booming DeFi, NFTs, and Altair upgrade are the driving forces behind success.
Ethereum launched the Altair upgrade successfully, with 98.7 percent of nodes upgraded.
This Altair upgrade will take place before the merger of Beacon Chain and the Ethereum mainnet.
This growth in ETH can be attributed directly to the success of Decentralized Finance (DeFi), and Non-fungible Tokens (NFTs).
These indicators highlight the rising demand for Ether (ETH), and they provide additional support for a bullish outlook for Q4 2021 and a push in Q1 2022.
In August, Ethereum also received important upgrades, such as the London Hard Fork that introduced a deflationary burning mechanism for assessing its fees.
What should you do if you want to invest in Ethereum (ETH).
On October 29, Ethereum (ETH), had a value $4,318.32.
We will compare the token to its September performance and its high value to get a better idea of its value.
ETH reached its all-time highest value of $4,416.05. This shows that the token’s all-time high value of $4,416 was $97.73 lower or 2.26% less than its current value.
We can see the token’s September performance at $3,972.66 when we look at it.
The token’s lowest point in the month was September 22nd when it fell to $2,730.41.
This shows that the token’s value has dropped by $1,242.25 (or 31%).
The token’s value increased by $3,076.07, or 247%, between September 22 and October 29.
In the past seven days, ETH has seen $78.28 trillion in transactions exceeding $100,000.
It also saw total exchange inflows of $8.31 billion and total outflows of $9.47 billion within the past seven days.
This is why we may see ETH reach $4,500 at the end of November and possibly hit a new ATH value.