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Cryptocurrency

Ethereum price hits $3.5K record as Winklevoss exchange adds Dogecoin

May 4, 2021. Summarized by summa-bot.

Compression ratio: 43.3%. 1 min read.

Bitcoin is being left in the shade amid new all-time highs from Ethereum and Dogecoin.

Ether (ETH) hit $3,500 on May 4 as the star of this week's altcoin rally battled Dogecoin (DOGE) for returns supremacy.

At the time of writing, the largest altcoin by market cap was in pure price discovery mode as it sought resistance above $3,500.

The week had already seen new highs for Ether price on a daily basis, with seven-day gains standing at 36%.

Discovery of a new price ceiling was likewise still in progress at the time of writing, with DOGE/USD taking out $0. 55 on the back of 38% daily gains.

Bitcoin (BTC) predictably felt the heat from the altcoin advance, shedding both market dominance and price strength to near $55,000 for the second time in 24 hours.

by summa-bot

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