[Asia Economy Reporter Donghyun Choi] Ethereum, the second largest cryptocurrency by market capitalization, surpassed $4,400, reaching an all-time high.
According to CoinMarket, a cryptocurrency market tracking site, at 8:25 AM on the 30th (Korean time), Ethereum was trading at $4,423.67, up 3.05% compared to 24 hours earlier. Ethereum exceeded $4,300 the previous day and broke through $4,400 on the same day, setting consecutive all-time highs.
The rise in Ethereum's price is attributed to a system upgrade. Bloomberg reported that after a successful upgrade introducing a faster and more efficient transaction system, the Ethereum network has been further strengthened. The ability to trade non-fungible tokens (NFTs) through the Ethereum network is also cited as a factor contributing to the price increase.
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