According to Cointelegraph, Ethereum prices reached $3,200 on November 10, the highest since August. Bitcoin prices broke through $79,000. ETH's market value is about $383 billion, about $40 billion higher than Bank of America.
ETH's high valuation shows a change in financial market dynamics, with blockchain technology adoption and growth beginning to outpace traditional finance. The U.S. Securities and Exchange Commission is considering listing the first options tied to a spot ETH exchange-traded fund (ETF).
ETH supply has increased rapidly over the past seven days, with an annual inflation rate of 0.424%. According to Ultrasound.money data, the current annual destruction rate is 452,000 ETH and the issuance rate is 957,000 ETH.
Crypto analysts have mixed views on ETH price action, but generally expect further price increases. Vitalik Buterin introduced the concept of "information finance," advocating for gathering community insights on future events through prediction markets.
