The highest price of Ethereum (ETH) was **$4,891.70 (November 16, 2021)**, which is **48% lower on average than the current price ($2,530).**

### **Reasons for ETH Price Increase**

1. **Global Crypto Market Situation**

- The rise in the price of Bitcoin and other cryptos also affects ETH.

2. **Ethereum Network Improvements**

- The move to Proof-of-Stake (PoS), Layer 2 scaling solutions (Arbitrum, Polygon) are improving performance and market confidence.

3. **Rising Use of DeFi, NFT and Smart Contracts**

- Ethereum is the main platform for the DeFi (Decentralized Finance) and NFT markets, and the growth of these sectors is increasing the demand for ETH.

4. **Institutional Investment and ETF Opportunities**

- Approval of Ethereum Spot ETFs encourages investment inflows.

5. **Supply & Demand Dynamics**

- ETH mining rate decreases and lock-in increases with staking#AltcoinSeasonComing #AltcoinTrade #TradeStories #TradeOfTheWeek