The ETH/USD closed at 1968.22 after placing a high of 1981.89 and a low of 1886.54. Ethereum continued its bullish trend for the fifth consecutive session on Thursday reached above 1980 level near its all-time high of 2000.

The Ethereum price had a successful first quarter of 2021 as it rose more than 160%. It has also outperformed the largest cryptocurrency by market cap, BITCOIN, whose prices rose 100% in the first quarter of 2021. The first quarter was a relatively successful period for Ethereum and other cryptocurrencies. Despite the increased cost of Ethereum, the demand for its network continued rising and pushing the prices higher. Other platforms built on Ethereum network like Tether and Wrapped Bitcoin also surged.

On the flip side, Ethereum also faced challenges like rising competition from proof-of-stake platforms that are faster and less expensive, like Cardano, Polkadot, and Solana. These altcoins also had a relatively successful first quarter. The increased popularity of Ethereum and the decreasing value of the greenback caused a massive surge in the value of crypto coin ETH that has reached closer to its all-time high of 2000 level. A Billionaire, Mark Cuban, has recently revealed that he owns 30% ETH as it is the closest to a true currency while Bitcoin is an alternative to gold. He also compared the smart contracts of Ethereum to the internet boom of the late 1990s.