On January 6, the cryptocurrency trades a little over $1,000 on Coindesk while Bitcoin hovers above $16,510. Exactly a month ago, ethereum was trading around $420, which is less than half of the current valuation. The rally had suddenly gathered steam on January 2 this year when the digital currency hit a high of $914 before closing for the day at $884. The next day, the currency hit a high of $974. And the next two days, the value price crossed past $1,000. On January 5, the market capitalization $94 billon, while a day before it was $93 Billion. On January 3, it was $85 billion.
After Thursday's price rise, the overall cryptocurrency market cap jumped past $770 billion, according to Coinmarketcap, thus commemorating new highs barely weeks after a correction witnessed the figure drop to $418 billion.