In recent news, Ethereum (ETH) has made another all-time prominent jump in the crypto world in just 10 days which is now making multiple investors stake more money in Ethereum.
As of now, Ethereum has surpassed the previous high of $4,468 to a new all-time high of $4,605. The term ‘high’ here is a record that corresponds to Ethereum’s hash rate which primarily acts as a metric to measure the network’s processing power. The processing power rate has escalated to 812,768.9228 GH/s.
This new rise is due to the expanding NFT market which has become a huge boom as NFTs have surpassed the $2 billion mark in the first half of 2021. This isn’t a surprise as NFTs are the talk of the day and have prominent business figures and celebrities fully invested in the ecosystem.
Apart from Ethereum, its rival Solana, which is the sixth-largest cryptocurrency in the world, has witnessed an increase by 13% i.e. a high price above $219 about a week ago.
Due to these recent developments, crypto experts and analysts have placed optimistic views in regards to the future of the crypto world.