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The Ethereum price is nearing previous all-time high levels, while Bitcoin appears to be stuck in a sideways motion between $34,000 and $38,000. 

Ethereum’s momentum has been gradually strengthening over the past few weeks, leading it to outperform Bitcoin. Since 1 January 2020, ETH has seen an 80% increase, while BTC has only seen a 27% increase. Ethereum is up more than 12% over the past 24 hour period, with bulls likely to strengthen as Ether approaches previous ATH levels.

https://twitter.com/cz_binance/status/1351375887703293953

Ryan Watkins, Senior Research Analyst at Messari took to Twitter, to boast that Ethereum’s daily transaction volume “is going parabolic”.  Included in the Tweet was a chart showing that Ethereum (including Ethereum-powered stablecoins but excluding non-stablecoin ERC-20 transactions to avoid double-counting DEX volumes.) have processed $12.3 billion in transactions over the past 24 hours, compared to Bitcoin (Including USDT issued on Omni) $9.3 billion, a massive $3 billion difference.

Ethereum is not the only altcoin making waves. Polkadot (DOT) also continues to be one of the top-performing altcoins up over 100% in the past 7 days, surging to over $19, flippening XRP in terms of market cap, to become the fourth largest crypto by market cap, according to CoinMarketCap.

Feature image by guncel medya from flickr