Ethereum was just 4% away from setting a new all-time high on Monday evening — some 1,100 days after its previous price record.
At press time, Ethereum trades for a little under $1,400, less than $100 behind its previous top set in January 2018.
Since then, the world’s number two crypto has spent most of its days trading between 70% and 90% below its all-time high.
No doubt, holders are eager to see Ethereum set a new price record. Bitcoin smashed its previous high last month and consistently trades nearly 100% above it since then.
Ethereum’s US dollar value might be nearing a new record, but its Bitcoin conversion rate is still in the dumps.
Despite rising more than 40% in 2021, ETH/BTC is still 75% below its highest point set in June 2017.
If Ethereum held onto its Bitcoin conversion rate, it would fetch around $5,700 per coin — around four times its current value.