Ethereum finally broke its previous all-time high of $1432 to create a new ATH at the time of writing. The second-largest cryptocurrency by market cap has nearly doubled its price since the start of the new year and many trade pundits believe it could also see price actions quite similar to bitcoin especially when its CME debut is less than 15 days away.
Source: TradingView
ETH was also the best performing asset last year and had a better YTD return than Bitcoin which many mainstream headlines missed due to the hype around bitcoin. Just like Bitcoins current bull rally is fueled by institutions, ETH can very well be on the same course as ETH Futures debuts on CME next month. Another similarity with Bitcoin is its non-security status which makes it the choice of investment for institutions without any risk.
The second-largest cryptocurrency is on a parabolic move and daily on-chain transaction has already surpassed bitcoin daily transaction by nearly 3 billion.
Whats Next？
ETH could venture into new territories post breaching ATH on several exchanges and just like Bitcoin, it might very well see its price peak into uncharted territories especially when things are finally looking well in place for the second-largest cryptocurrency.
Governments around the globe are actively looking into forming user-friendly regulations, and with institutional influx eminent for ETH, it could well be the only asset after Bitcoin on various public companies portfolios.
With ETH 2.0 slated to take over within 2 years, Ethereum. the network could potentially become the crypto gateway for many mainstream fintech banks that can leverage Etheruems scalability and functionality to build the banks of futures.