Today, the second-most valuable cryptoasset, ethereum (ETH), has surpassed its all-time high of USD 2,043 reached in February.
At the time of writing (14:56 UTC), ETH trades at almost USD 2,060 and is up by 6.6% in a day, increasing its weekly gains to 30%. The price is up by 38% in a month and 1,412% in a year.
At the same time, bitcoin (BTC) stands at USD 59,204 and is almost unchanged in a day. ETH outperformed the most popular cryptocurrency in the past week, month and year.
However, ETH’s trading volume is considerably lower – USD 36bn in the past 24 hours vs. BTC’s USD 53bn.
“We’re now really breaking higher and that will very likely attract buying activity,” Julius de Kempenaer, senior analyst at StockCharts.com, told Bloomberg. “Ether is gaining in relative strength versus bitcoin.”
ETH price chart:
Meanwhile, ETH is still far away from its all-time high against BTC, reached in 2017.
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– Bitcoin to Be Worth Millions by 2023, ETH Above USD 2K by 2022 – Kraken CEO
– Inflation Is Here & Bitcoin Will Hit USD 115K ‘Ahead of Target’ – Pantera
– ETH ‘Insanely Cheap,’ DeFi To Rally, BTC Dominance to Drop – Pantera Capital CIO
(Updated at 15:11 UTC with a comment. Updated at 15:19 UTC with a ETH/BTC chart.)