With all cryptocurrencies pumping extremely hard right now, the money is flowing into people’s pockets faster than one can spend it. Even the Ethereum price is going up in quick succession right now, which is pretty interesting to see. With an Ethereum price of over $600 now, a lot of early investors and holders have been rewarded for their patience. It is remarkable how much all currencies have grown this year, and there are still more than two weeks left in the calendar year.

Ethereum Price Sets a new All-time High

Over the past two weeks, it became evident Bitcoin would continue to shatter records like never before. One thing few people were certain about is whether or not most alternative cryptocurrencies would follow a similar path. Given how all of these altcoins depend on the Bitcoin price, there is never any guarantee of success whatsoever. In the case of the Ethereum price, however, there was seemingly nothing to worry about. In fact, things are looking even more bullish than they have throughout 2017.

With this remarkable growth, the Ethereum price further solidifies its position as the world’s second-largest cryptocurrency by market cap. It is the first time this cap surpassed $50bn, and things are only just getting started, by the look of things.  More specifically, the current Ethereum price of $610 may seem like a lot, but it may very well be a drop in the bucket when we look back on things in a year from today.

Over the past week or so, the Ethereum price has noted spectacular growth. After struggling for momentum at the $450 level, things suddenly picked up steam over the past 24 hours. Thanks to solid gains in both USD and BTC value, it is evident Ethereum will continue to surprise a lot of people. The same can be said for all other top 10 currencies. Everything in the world of cryptocurrency is blowing up as we speak, and it would have been strange to see Ethereum miss out on this run.

No Ethereum price gain can be sustained without proper trading volume. Things are firing on all cylinders in this regard as we speak. More specifically, Ethereum has over $4.43bn worth of trading volume in the past 24 hours, which is a very high amount. it is not the first time we see the world’s second-largest cryptocurrency by market cap reach such high volume, mind you, but it remains to be seen if any of these altcoins can effectively maintain the momentum for more than a few hours.

As we would come to expect, there is a ton of fresh money pouring into cryptocurrency right now. This is also the case for Ethereum, as its top 3 exchanges by trading volume are denominated in Korean Won and US Dollar. Bithumb is clearly in the lead, yet GDAX and Bitfinex are very close on its heels. A very interesting situation to keep an eye on in the coming hours and days. We also see 12 exchanges generated over $100m in volume, which indicates ETH is in high demand all over the world.

How high the Ethereum price can go, is anybody’s guess at this point in time. If the Litecoin bull run is any indication, the Ethereum price may very well hit $900 in the next two days. At the same time, cryptocurrency markets remain utterly unpredictable, and reversals are equally as violent as any price increase. How things will play out, remains to be determined, but the signs are pretty positive right now.