After bitcoin reached its all-time high (ATH) on Wednesday, the second-largest crypto asset in terms of market capitalization, ethereum, is nearing its own ATH. The last time the crypto asset hit an ATH was five months ago on May 12.
Ethereum Climbs 46% in 30 Days, Commands Half Trillion Market Cap
The digital currency ethereum (ETH) came awfully close to surpassing its all-time high this week, reaching $4,379 per unit on the exchange Deribit. That’s only 0.1141% away from the ATH ethereum tapped five months ago ($4,384) on May 12, 2021.
Ethereum’s market movements have been slower over the last week, taking a backseat to bitcoin (BTC) after the first U.S.-based bitcoin exchange-traded fund (ETF) was launched. Three days after the listing, ethereum and a slew of other crypto assets started to pick up the pace in terms of market performance.
Seven-day statistics show ethereum is up 21.0% this week and during the last month, ether has risen 46.5%. Year-to-date, ether has gained more than BTC, rising 1,084.4% during the last 12 months. ETH has a market capitalization of $513.6 billion today and is hovering at half of a $1 trillion market cap. Additionally, ether is much more valuable than it was during the bull run in 2017, as it has increased 8,985% since the high in December that year.
ETH Dominance Increases Over Last 2 Days, Ethereum Blockchain Still the Defi King
As far as dominance is concerned, BTC currently has 44.5% of the aggregate market cap of $2.79 trillion. Ether has 18.3% and its dominance has increased a great deal during the last 48 hours. At the time of writing, Ethereum’s network hashrate is 717 terahash per second (TH/s)
