FX.co ★ ETH reaches new record highs

On Monday, May 3, Ethereum (ETH) reached a new record high. On Sunday, May 2, the price of the second cryptocurrency hit $2,950.

According to analysts, just in one day, the cryptocurrency advanced by 2%, whereas in the previous month, it showed an incredible 45% rise. At the moment, ether market capitalization exceeds $335 billion.

Economists noted prerequisites for the active growth in the first month of the spring. Earlier, the altcoins’ dynamic directly depended on bitcoin. However, in March 2021, the situation changed significantly.

At the beginning of the spring, the share of BTC in the crypto market declined to a three-year low, whereas in the currency market, its share slid to 46%. By the moment, bitcoin has depreciated to $56,500 from $64,000. Experts emphasize that when ether reached its all-time high, bitcoin was trading well above its peak price.