Ethereum rose to a record high of US$ 1,761.35 on Friday, February 5, 2021, as the cryptocurrency market rallied. The world’s second-largest virtual coin has returned more than 133 per cent this year.

The token, with a market cap of over US$ 190 billion, zoomed to its peak.

At 5:32 am ET, on February 6, Ethereum was trading at around US$ 1,680 per Ether, with a 24-hour surge of 5.83 per cent.

Ethereum climbed over 1,532 per cent in less than a year, compared to US$ 107.90 per token on March 17, 2020*. Its 24-hour price volume stands at US$ $41.68 billion.

Several analysts are predicting the digital token could hit its next peak of US$ 2,000 within the next few days.

However, the unregulated crytpo market continues to be highly risk and volatile.

Ethereum’s Emergence Amid Crypto Rally

This blockchain-based digital currency offers worldwide transactions through Ethereum wallets.

After the extraordinary cryptocurrency rally in the last two months, several mainstream investors have been weighing this industry.

The top cryptocurrency bitcoin has already attracted institutional investors. Ethereum could be the next in the lineup.

Ethereum was trading in the periphery of C$ 1,400 for the last few weeks. Its token has been accelerating its bullish run in the last two days.

Its previous all-time high was US$ 1472 per token. It holds a current total supply of 114.52 million.

The cryptocurrency industry’s market value is US$ 1.13 trillion, up 3.02 per cent in the last one day.

A Glance At Its Rivals

Crypto giant Bitcoin has risen more than 2.9 per cent to US$39,792.02 per BTC in the last 24-hour. The largest virtual coin has grown 36 per cent year-to-date (YTD), with a current market cap of over US$ 740 billion.

However, Bitcoin continues to be more volatile than Ethereum.

Ripple’s XRP has also gained momentum with a 0.50 per cent surge in the last 24-hour. Its current price per token is US$ $0.435387, with a market cap of US$ 43.53 billion. XRP has returned over 83 per cent YTD.

*As per details on Coindesk