Today, Ether (ETH) reached $500 for the first time after more than two years of poor performance. Data from leading cryptocurrency trackers showed ETH/USD briefly hitting this significant barrier, before rejections halted its progress.
This achievement delighted traders as many could see that this cryptocurrency outperformed giant, Bitcoin (BTC) overall, as shown by their year-to-date returns; 284% for Ether and 155% for Bitcoin.
This increase comes in stark contrast to the price lows the altcoin experienced in mid-March, following the coronavirus-induced cross-asset crash. At the time, ETH/USD traded at just $117, making the recent upward jolt a 327% increase.
Alongside Ether’s rise, other major cryptocurrencies also showed signs of life, notably Litecoin (LTC), which gained 12% for the day and 7% for the month.
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