Bitcoin (BTC) rose nearly 22% in one week, but the spectacular gains are easily overshadowed by Ethereum (ETH), the number two cryptocurrency by market capitalization.
What happened: The profits of ETH in the same period were almost double those of Bitcoin, and it was almost 59%.
The Vitalik Buterin-based cryptocurrency surpassed the $ 1,000 mark on Sunday and hangs in the press period near its 52-week high of $ 1,128.
The astronomical increase in ETH prices has not gone unnoticed by the cryptocurrency community.
Cryptocurrency journalist Joseph Young noticed on Twitter that ETH is now ten times higher than the low hit in March.
The daily volume of Ethereum on Binance exceeded $ 3 billion.
$ 3,000,000,000.
Bitcoin’s volume on Binance is $ 3.9 billion.
– Joseph Young (@iamjosephyoung) 4 January 2021
Why it matters: Investor in the cryptocurrency and the Olympic Tyler Winklevoss tweeted Sunday that Bitcoin and Ethereum ‘are all the biggest hits of 2021.’
Possess $ ETH and $ BTC in this market is like being bisexual in an orgy.
Top the tweet.
– Do not follow Shardi B if you hate money (@ ShardiB2) January 3, 2021
Meanwhile, Deribit, the exchange of cryptocurrencies, said over the weekend that the interest of ETH options reached a new record of $ 1.1 billion.
$ ETH Open interest rates for options hit a new high of $ 1.1 billion
85% of the total ETH option market OI is held at Deribit!$ ETH price ~ 1050 USD $ ETH options highest strike – 7K on December 21st expiration
– Deribit (@DeribitExchange) 4 January 2021
Since the beginning of the year, BTC investments have returned 12.65%, while ETH has returned a whopping 46.34%.
Grayscale Bitcoin Trust (OTC: GBTC) and Grayscale Ethereum Trust (OTC: ETHE) closed lower on Thursday with 2.74% and 9.14 at $ 32 and $ 15.50 respectively.
Price action: Bitcoin traded 2.7% lower at $ 32,953.22 and Ethereum traded 41.71% higher at $ 1,112.88 at the time of printing.
See also: Top 5 smart contract platforms outperform Bitcoin today
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