Ethereum hits $500 for the first time since June 2018, outperforming Bitcoin YTD

Ethereum hits $500 for the first time since June 2018, outperforming Bitcoin YTD


Ether (ETH) returned to $500 for the first time in more than two years on Nov. 20 as altcoins slowly staged a comeback from poor performance.

Cryptocurrency market overview from Coin360. Ether price sees $500 after more than 2 years

Data from Cointelegraph Markets, Coin360 and TradingView showed ETH/USD briefly hitting the psychologically significant barrier in Friday trading before a rejection halted progress.

Trending: Bill Barr and Trump Administration Fast-Track New Rule To Allow For Additional Forms of Federal Execution

Despite being capped at roughly 6% daily gains at press time, Ether’s achievement delighted traders, who noted that overall in 2020, the largest altcoin has outperformed even Bitcoin (BTC).

Year-to-date returns stood at 284% for Ether and 155% for Bitcoin.

Versus the pit of its price lows in mid March, just after the coronavirus-induced cross-asset crash, Bitcoin was still the strongest player — at the time, ETH/USD traded at just $117, making Friday’s levels an increase of 327%, while BTC/USD gained 411% from $3,600 to $18,420.

Bitcoin vs. Ether price year-to-date chart. Source: Digital Assets Data

Continue reading

You Might Like

Do NOT follow this link or you will be banned from the site!
Send this to a friend