Ethereum’s new ATH post Altair upgrade suggests merge

Ethereum’s price climbed to a new all-time high (ATH) today, hitting $4,400.97 by 1:02 am UTC based on the ETH/USD price indexes on Coinbase and Coinmarketcap.

ETH is priced $4,380 at present, with a surge of around 46.6% since October’s beginning. Coinmarketcap’s price index shows that the ATH before was recorded on Oct. 21, with the asset reaching a price of $4,308.48.

ETH has been subjected to a bullish phase since its drop to $1,780 on July 21. Since the date, ETH has gained 147% to climb to a new point of discovery.

Yesterday, an Ethereum 2.0 Altair Beacon Chain update was reported to have a successful start. Ninety-eight percent of nodes were said to be upgraded at the time. This upgrade to the chain is considered an important factor that clears the way for a merging with the Ethereum mainnet and PoS transition in Ethereum 2.0.

The ecosystem’s success is also owed to the platform’s use in the DeFi and NFT sectors which are booming at present. These stress the rising Ether popularity, thus solidifying additional tailwinds to its bullish outlook in 2021’s fourth-quarter and potentially well into 2022.

Ethereum had went through pertinent upgrades back in July 2021. One of which is the London Hard Fork which included a deflationary burning mechanism, a feature of its fee structure.

The total market sentiment in crypto had been positive recently a the SEC approved scores of Bitcoin futures-based ETFs to release on the NYSE. Bitcoin then hit ATH prices following the news.