Ethereum continued its rally on Friday, surpassing $ 3,900 to hit a three-month high, as the cryptocurrency, which is second behind Bitcoin, has seen a nearly 4.9% jump in the past 24 hours, after rising by over 7% yesterday.
Ethereum rose to $ 3,958, in growth of 25% in a week, approaching its previous all-time high of $ 4,168, reached in May, bringing the cryptocurrency’s market cap to $ 465.4 billion.
Since early August, when Ether was trading at around $ 2,500, it has risen by around 50%, according to price tracking data provided by CoinDesk.
With prices in hike this week, Ether widened the gap between cryptocurrency yields versus those of Bitcoin, S&P 500 and Dow Jones Industrial Average in one year. Ethereum also gave its holders a yield of over 700% in the past 12 months through Thursday, compared to just over 300% for Bitcoin and 26% and 21% for the S&P 500 and Dow Jones, respectively.
Ether has already risen more than 400% in 2021, and some experts say it could go as high as $ 4,000 in how much benefits from an increase in transactions and an increase in purchases of token non-redeemable (NFT) on the Ethereum blockchain.
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