Ethereum Broke A Record After Bitcoin

Ethereum broke a record after Bitcoin. ETH hit a new record by reaching the level of $ 4,366.

The biggest altcoin, Ethereum, has now joined the spring mood in the cryptocurrency market. While the total value of the market exceeded $2.63 trillion, records came from Bitcoin and Ethereum in a row. After Bitcoin, which reached an all-time high by exceeding $ 67,000, Ethereum also rose to $ 4,366 and reached a record level. Ethereum's last record was $ 3,457, which it reached on May 12, 2021. After BTC and ETH hit the record on the same day, the correlation between the two reached an extremely strong level. According to the correlation metric offered by Cryptowatch, expressed with a value between -1 and 1, Bitcoin and Ethereum have reached a parallelism value of 0.82 in the last 30 days. A value of -1 in the metric indicates no connections, while a value of 1 indicates that the assets are making the exact same move. It should be noted that after breaking the record on May 12, Ethereum has been underperforming for a while. ETH, which fell to $ 1,700 on June 22 and July 20, attracted attention by increasing its price two and a half times in just three months. When the 52-week scale is examined, it is seen that the most valuable altcoin has gained over 1000%. On October 21, 2020, Ethereum price was just $368.73. An investor who bought $100 in Ethereum a year ago today would have had an asset of around $1,190 today. After the records, Bitcoin dominance in the market was 46.5%, while Ethereum dominance reached 18.9%. In addition, the total market value of Ethereum seems to be very close to 500 billion dollars.