Ethereum , the cryptocurrency broke the record by reaching over $4,000 for the first time. This cryptocurrency has climbed higher to the peaks consecutively for the third day. However, some of the analysts said that it was an overvalued amount at current levels to which this cryptocurrency has reached.
Ethereum jumped to more than 6% to just below the value of $4,175, as it was last up by around 2%.
Head of research at the brokerage Pepperstone, Chris Weston said, “Crypto has got a lot more institutional involvement than the people who have not followed the market believes.”
Moreover, he further added while referring to its role in the DeFi that “everyone is been in ethereum and it is not a meme or a joke coin, it in actual have some application use.”
