Ether has continued to outshine Bitcoin — but the world’s No. 2 cryptocurrency was facing an uphill struggle on Friday morning as it tried to smash through the $2,800 zone.
At the time of writing, ETH has gained 27.8% over the past seven days… far more than the 11.86% that BTC could muster.
Bitcoin also had something of a wobble late on Thursday evening. After repeatedly trying and failing to overcome resistance at $55,000, it slid to lows of $52,418. However, the losses were temporary, with BTC returning to $54,706 in the hours that followed.
A Significant Milestone
ETH is now firmly in price discovery mode, and we could see further volatility as traders try to determine exactly what this cryptocurrency should be worth.
A number of crypto enthusiasts on Twitter are confident that we could see Ether break $3,000 soon.
The recent uptick in ETH’s value means that this cryptocurrency’s market cap is now worth more than big names such as PayPal, Exxon Mobil, Toyota and Comcast.