Ethereum price spikes to $1,161 for the first time in three years: What’s next? By Cointelegraph

Ethereum price spikes to $1,161 for the first time in three years: What’s next?

The price of Ether (ETH), the native cryptocurrency of the blockchain, achieved $1,161 for the first time since January 2018. Immediately after it hit a new three-year high, ETH corrected to below $900.

Ether rallied due to the momentum of . Historically, following a strong BTC rally, altcoins have seen a swift uptrend. Traders usually call this “alt season” because many altcoins tend to increase in tandem.

Ethereum futures funding rate. Source: Glassnode