A contributing element towards Ethereum's surge is the growing popularity out of non-fungible tokens (NFTs). These digital assets allow creators to sell distinctive items of art, tunes, and other intellectual property on a blockchain platform. As NFTs build inside popularity, Ethereum's blockchain has transformed into the go-to platform for creating and purchasing them, causing significant demand for Ether.Finally, competition from other cryptocurrencies is another factor that affects Ethereum's price. While there isn't any lack of digital currencies available for investment, investors could move their funds far from Ethereum, decreasing demand and lowering its price.