Why is Ethereum’s Price Soaring?

The price of Ethereum reached an all-time high over the weekend. It is up nearly 10 times the price in the last 12 months.

Background: Both Ethereum and Bitcoin have benefited recently due to the launch of cryptocurrency exchange-traded funds (ETFs), which are the next big thing in the crypto space.

Upgrade: Another factor behind Ethereum’s surge is the London upgrade in August, which resulted in a diminished supply of Ethereum coins. This might be raising the value.

History: After the price of Ethereum peaked in May, it decreased rapidly over the next several weeks.

Final Thoughts: While the price of Ethereum could continue to rise, history tells us that it could drop after peaking.

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