Ether, for the first time this year so far, is reaching for the price point of $4,000. While the asset is yet to stabilize, its movement has triggered a wave of optimism among investors.
At the time of writing, CoinMarketCap showed ETH trading at $4,025 — having logged a price hike of over 1.50 percent in the last 24 hours. It is, however, noteworthy that the asset has been receding to under $3,090 after hitting the $4,000 mark amid prevailing volatility.
“The green light for crypto in US 401(k) plans is a game changing development, potentially unlocking a wave of institutional-grade capital from retirement funds. Ethereum is well positioned to ride this bullishness, though it still needs a decisive breakout to cement the next leg higher,” Avinash Shekhar, Co-Founder and CEO, of the Pi42 crypto exchange told CoinHeadlines.
Earlier in July, Ether managed to exceed the pricing of $3,000 for the first time this year. Prior to this, the asset had been range bound between $2,300 and $2,800.
ETH’s flight towards a higher pricing has sparked a flurry excited and hilarious reactions from the investor community.
While BTC recently clocked its latest all-time-high of over $123,000, Ether’s performance over the last few years has remained comparatively lackluster. The asset’s last ATH was created in November 2021, when it reached the price point of $4,878.
The second most expensive crypto asset after BTC, ETH’s all-time low is reported to be $0.43.