Ethereum price all-time high follows reduced gas costs and DeFi revival

Ethereum price all-time high follows reduced gas costs and DeFi revival


Mainstream adoption of cryptocurrency continues to reach new highs in 2021 thanks to the growth of popular sectors like decentralized finance (DeFi) and nonfungible tokens (NFT). 

The explosive growth seen over the past year would not have been possible without the Ethereum network (ETH), which saw its price break out to a new all-time high on April 27 following the successful launch of the ‘Berlin’ upgrade on April 15.

ETH/USDT 4-hour chart. Source: TradingView

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Data from Cointelegraph Markets and TradingView shows that the price of Ether has rallied 27% over the past five days from a low of $2,107 on April 25 to a new record high at $2,680 on April 27 as altcoins appear to be gaining momentum.

ETH/BTC foretold the move

Signs of an impending breakout have been appearing for a while as pointed out by Raoul Paul, founder and chief executive officer of Real Vision Group.

To be brutally honest, I stare at the chart of ETH/BTC and I see an

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