During the trading session, the price of Ethereum reached the maximum value of $4770, the publication specifies.

During the last week and a half, starting from October 28, Ethereum renewed historical records of cost four times.

The rise in demand for the cryptocurrency was triggered by a Finder.com report based on a survey of cryptoanalysts, who predicted Ethereum to be worth $5100 per token by the end of 2021. The report also indicated that Ethereum’s price will reach $50,000 by 2030.

The publication notes that a number of analysts predict that Ethereum will overtake Bitcoin as the No. 1 global cryptocurrency by mid-2022.

As Ethereum’s price rises, transaction fees for the cryptocurrency also rise: the average transaction fee was $41.53 as of Saturday, November 6, which is about three to four times higher than in August.

At the moment, Ethereum’s market capitalization is still about half of Bitcoin’s market capitalization: $554.5 billion versus $1.2 trillion.

Ethereum has gained 31% in value over the past month and 535% since the beginning of 2021.

Translated with www.DeepL.com/Translator (free version)

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The two most popular cryptocurrencies, Bitcoin and Ethereum, account for more than half of the capitalization at $1.8 trillion.

It took the cryptocurrency market six months to increase capitalization by $1 trillion.

During May, the rise in price of mainly Bitcoin and Ethereum led to an increase in market capitalization to a record $2.6 trillion. After that, a decline began due to restrictions on the crypto market in China, and the record could be repeated only on October 20.

Over the past three weeks, the cryptocurrency market has twice updated historical capitalization records.

For the first time, the increase in capitalization was not due to Bitcoin’s rise in price, but due to the rise in price of other cryptocurrencies. They account for 41% of the market value of all virtual assets.

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“I think it’s wise to own cryptocurrency as part of a diversified investment portfolio. But don’t take that as investment advice,” Cook said during the DealBook conference.

The Apple CEO did not specify which cryptocurrencies are part of his investment portfolio.

He added that he was first interested in cryptocurrencies, then he researched the crypto market in detail.

Cook stressed that cryptocurrencies are his personal interest, not concerning Apple in any way.

The company is not considering selling iPhones or other gadgets for cryptocurrency, as it could negatively affect Apple’s stock price.

Apple currently has no products or services related to cryptocurrency. The company allows cryptocurrency wallet apps in its iPhone app store, but prohibits mining apps.

Cook added that while Apple is exploring cryptocurrency technology, it’s “not something we plan to do anytime soon.”

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