A famous cryptocurrency is approaching its all-time high. I gained 25% in one week

Ethereum continued its rally on Friday, surpassing $ 3,900 to hit a three-month high as the cryptocurrency, which ranks second behind Bitcoin, surged nearly 4.9% in the past. last 24 hours, after increasing over 7% yesterday.

Ethereum hit $ 3,958, up 25% in one week, bringing it closer to its previous all-time high of $ 4,168, reached in May, bringing the cryptocurrency’s market cap to $ 465.4 billion.

Since early August, when Ether was trading at around $ 2,500, it has risen by around 50%, according to price tracking data provided by CoinDesk.

With the price hike this week, Ether widened the gap between cryptocurrency returns relative to Bitcoin, S&P 500, and Dow Jones Industrial Average returns in a year. Ethereum has also given its holders a return of over 700% over the past 12 months through Thursday, compared to just over 300% of Bitcoin’s returns and 26% and 21% of the S&P 500 and the Dow Jones respectively. .

Ether has already jumped more than 400% in 2021, and some experts say it could be heading towards $ 4,000 as it benefits from an increase in transactions and an increase in non-redeemable token (NFT) purchases on the Ethereum blockchain.