On the 20th of November, the price of Ether (ETH) climbed $500 after two years. Cointelegraph in a report that ETH/USD hit the new high not seen since 2018 before a rejection that stopped the surge.
According to Coinmarketcap, ETH is up 6.52% to $507.38. With a 24-hour trading volume of nearly $18 billion, ETH has increased by 7.17% in the same period.
Although Bitcoin is recording more increases than ETH, Ether has outperformed the king coin in its year-to-date performance. As stated by Cointelegraph, ETH has increased by 284% in year-to-date returns while BTC is at 155%.
Bitcoin and Ethereum have rebounded from the mid-March crash caused by the coronavirus pandemic. At the time, ETH traded around $177, and BTC was at $3,600. The Cointelegraph report revealed that ETH has added by 327% since the crash and BTC has also surged by 411% since then.
Currently, BTC is up 3.39% to $18,513.82.
The ETH surge contradicts a statement by Cointelegraph Markets analyst Michael van de Poppe. Before now, Poppe said that there would be no “altseason” anytime soon. However, other altcoins are also increasing across all exchanges.
Last month, Litecoin (LTC) outperformed BTC by 7%. LTC has grown 3.24% in the last 24 hours and is currently up 3.21% to $82.01