Ether is outperforming bitcoin by the greatest amount this year since the native token of the ethereum network was launched in 2015.
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Bitcoin tumbled over 9% on Friday, dragging smaller tokens down, after the discovery of a new, potentially vaccine-resistant coronavirus variant.
Bitcoin fell to a one-month low on Friday and was headed for its worst week in six months.
Bitcoin and ether stayed weak on Wednesday and near critical levels that analysts believe could spell further weakness if breached.
Bitcoin and ether made record peaks in Asia trade on Tuesday, with enthusiasm for cryptocurrency adoption and worry about inflation driving momentum.
Bitcoin rose to a two-and-a-half-week peak on Monday and ether climbed to a fresh record as cryptocurrencies ride higher on a wave of momentum.
Ether, the world’s second largest cryptocurrency, hit an all-time high on Friday, a little over a week after larger rival bitcoin set its own record.
Promoted | Where historically we have seen money flow from ethereum to large-cap altcoins, this time they seem to be moving all at once. Why?
Promoted | China banned cryptocurrencies again, but this time the markets hardly noticed. What does this mean for the strength of crypto, and has China just made big mistake?
China’s multiyear crackdown on the crypto industry may have reached its apex on Friday, cementing a shift in the balance of power away from one of the countries that first embraced the digital currency world.