The Ether price has set a new record. The old record was held for 171 days.
+7% in the last 24 hours
This morning Ether hit a new peak at $4,415+; a brand new all-time high.
The previous all-time high was set on May 12th 2021 and it was just beaten which also brought the market cap of ETH to $508 Billion. The record was also jointly paired with the total value locked on Ethereum DeFi which crossed the $100 Billion mark for the first time ever.
Facebook rebrands to Meta before the ATH, coincidence?
Facebook's founder and CEO, Mark Zuckerberg, announced yesterday that Facebook will be rebranding into "Meta". The word comes from "metaverse" which is part of Ethereum's value proposition: a digital world where users identify through an NFT and can interact with one another even without being in the same physical space.In our opinion, ETH hitting an ATH shortly after the rebrand is no coincidence as it acted as confirmation for ETH and the market priced in that heightened confidence.
The Ethereum 2.0 Altair Beacon Chain upgrade has started successfully
Last Wednesday, an update was also rolled out for Ethereum that only affected nodes. The Ethereum 2.0 Altair Beacon Chain upgrade has started successfully. 98.7% of all nodes have already been updated.Altair is the first upgrade to the Beacon Chain since it went live in December 2020 and likely the last before it merges with the Ethereum mainnet and moves to proof-of-stake. It was done through a hard fork, this means that a node that has not downloaded and installed Altair will not be connected to the Ethereum blockchain, and their stake will decrease by about 10% per year.
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