(Markets Insider) The world’s second biggest cryptocurrency Ethereum led other altcoins in Wednesday’s surge, jumping by up to 7% to about $3,560, the highest since mid-May.
The surge in Ether boosted other alts, with Polkadot up more than 8.7% to a fresh record of $32.10. Chainlink’s link surged by 6.21% to $27.58. Ripple was up 7.43% to $1.20, while Uniswap’s UNI token surged to $30.48 in only 24 hours.
The surge is connected to the growing popularity of DeFi and NFT mania, which are making a buzz in the cryptocurrency industry.
Since most NFTs are minted on Ethereum blockchain, the crypto currency has experienced a heightened demand. The uplift in Ether is also supported by the previous London hard fork network upgrade.
Analysts now see Ether topping the $4,000 mark, which is below the previous all-time high of about $4,362.
OpenSea, which is the largest NFT platform, posted the highest level of activity in August, with at least $3 million worth in volume, 10 times more than July.
ETHUSD is up +3.50%, SOLUSD is up +6.20%, DOTUSD is down -4.40%.
