When compared to Bitcoin, the price of Ethereum breaks $3,500

Syed AhadWeb Editor

02nd Sep, 2021. 12:51 am

On Wednesday, Ether (ETH), Ethereum’s native asset, extended its rise to multi-month highs against Bitcoin (BTC) and the US dollar.

Cryptocurrency touches its top levels compared to Bitcoin and the dollar in more than three months.

The ETH/BTC exchange rate rose 3.13% to hit 0.07475 for the first time since June 9. In the meantime, bids for ETH/USD scaled 3.4% to $3,546, the uppermost since May 18, showcasing a transformed benefit gush in the second-largest cryptocurrency market after it consolidated oblique for more than 3 weeks.

Ether’s price jump seemed in spite of a trembling price behavior across the cryptocurrency market. For example, Bitcoin prices continued to trap around $47,000 while judging a pure escape move above their psychological resistance level of $50,000.

Likewise, one of Ether’s highest rivals, Cardano (ADA), also consolidated indirectly following its 100%-plus price rally in August, although its market supremacy chops from 4.54% between Aug. 8 to 4.26% at the period of writing.

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