Ethereum has hit a new all-time high of over $4, 416 just 2 days after eclipsing its previous record.
The new high comes after the latest Ethereum 2.0 Altair upgrade, the third upgrade in 7 months that brings a more secure Ethereum closer to realization.
The latest upgrade follows the August 2021 London hardfork which saw Ethereum institute a deflationary mechanism by introducing a base fee to the network, which essentially destroys network fees reducing Ethereum’s rate of supply growth on the network in the process.
Year-to-date, ethereum (ETH) has gained 1,013% and during the last 30 days the crypto asset has increased by 54.7%.
The current valuation of Ethereum currently sits at around $510 billion.
This is a milestone for Ethereum, which has seen impressive growth in 2021 following a boom in the DeFi and NFT spaces.
Ethereum dominates the NFT space at over 77.73% and the DeFi space at over 69.72% in market share.
According to the latest Q3, 2021 DappRadar report:
The blockchain industry grew 25% QoQ reaching 1.54 million daily UAW. This is a 509% YoY growth
The NFT space saw over 704% growth in trading volume translating to over $10.67 billion. This is a 38,060% increase YoY
Ethereum dominated the NFT space at over 77.73% while Ronin accounted for 19.53% of the market
Ethereum accounted for 69.72% of the industry’s DeFi metric
Ethereum remains unmatched as the incumbent blockchain dominating at about 70% of the DeFi space. At the same time, dapps on the protocol continue to hold and grow their value. Notably Aave grew by 44% and Lido saw over 213% growth during the quarter.