Ether breaks $500 billion market cap for first time
Bitcoin broke a $500 billion market capitalization in late December 2020. Ether (ETH), the second most-valued cryptocurrency after Bitcoin (BTC), has hit a major milestone amid the ongoing price rally.On May 12, Ether price set another historic record, surging to as high as $4,346, according to data from CoinMarketCap. Ether's market capitalization briefly surpassed $500 billion, reaching nearly $505 billion on Wednesday.The new milestone marks Ether’s ongoing massive surge after ETH surpassed a $4,000 price mark for the first time in history on May 10. At the time of writing, ETH is....
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Bitcoin has been trending higher for two days but ether is in the spotlight now.
The volume on Ethereum futures flipped Bitcoin's after hitting a new record at $10 billion, and derivatives data suggests further upside for Ether price. In the past 30 days, Ether (ETH) price decoupled from Bitcoin (BTC) to post a 67.5% gain, while the leading cryptocurrency price has barely moved. Ether's $3,605 all-time high on May 5 was responsible for boosting the asset's futures open interest to $10 billion.This movement brings up some crucial questions as the dominance of Bitcoin's derivatives markets appears to be challenged at the moment. On May 4, Ether's aggregate futures....