Ethereum (ETH) Approaches $5,000

Ethereum is approaching a new all-time high $5,000 with the digital asset rising above $4,600 while bitcoin swinging at $62,000.

The second-largest crypto by market cap is trading at $4,602.71 with a 24-hour trading volume of $13,796,236,740. This means Ethereum is up 3.86% in the last 24 hours, taking its market cap to $544,255,134,345.

As a result, Ethereum (ETH) seems to have stolen the show from other cryptos like Shiba Inu last week with its ratio up from 0.058 in October to almost 0.075, one of its highest levels in many years.

With Bitcoin hovering around $62,000, Ethereum seemingly tries to move further up in what might be the beginning of altcoins season.

According to crypto experts, Ethereum is using this opportunity to make gains, moved in part by the rise of metaverse tokens like Decentraland’s MANA.

Also, the crypto expert added that $5,000 might be a big resistance level but 4 years on since BTC overtook it, with the crypto sideways less than 10% below that line.