Ether has managed to hit a new all-time high at $2,600 amid a bullish run for Bitcoin and other currencies.
According to data processed by CoinTelegraph Markets Pro and Trading View, the ETH/USD pair was trading at $2,600 on April 22, having achieved 9.2% in daily gains.
The ETH/BTC pair was trading at 0.047 – the highest it has had since August 2018. Ethereum kept its momentum all throughout the day. That is not surprising given how much action Ether has been able to attract.
In a tweet, Real Vision CEO Raoul Pal touted Ethereum's properties as the go-to way of settling payments across a wide array of crypto operations.
“When you price anything up in DeFi, NFT, community tokens or even metaverse worlds, everything is basically priced in ETH, including designers time etc. ETH is rapidly becoming the currency of the digital world and BTC is the pristine collateral and base layer”, he said.
While the recent shift in fortune was welcomed by the community, it also led to higher gas fees, the bane of the Ethereum ecosystem which is yet to be addressed in full. A solution is coming, but it may take a while to arrive.