Ethereum Classic Hits New All-Time High, Outperforming Ethereum In Past Week
Ethereum Classic (ETC) touched an all-time high of $54.83 on Monday night, leaving Ethereum (ETH) chasing to catch up in terms of weekly gains.
What Happened: The cryptocurrency that came into being after a contentious July 2016 hard fork in the Ethereum blockchain has soared 59.5% in a seven-day trailing period. Meanwhile, ETH has soared 30.85%.
At press time, ETC traded 18.35% higher over 24 hours at $53.09, while ETH traded 10.87% higher at $3,319.57.
See also: How to Buy Ethereum (ETH)
In terms of yearly-to-date gains, the difference between the two coins is even starker. ETC has soared 828.26% since the beginning of the year and ETH has risen 346.81%.
Yet, both have outperformed Bitcoin (BTC), which is up 94.5% so far this year. BTC traded 3.34% lower at $55,705.56 at press time.
Why It Matters: Earlier on the weekend, Ethereum Classic’s website reportedly went down, which users ascribed to a “spike in interest” on social media.
The main website has been down for a while now…. coincidence or not?
— Ethereum Classic (@eth_classic) May 2, 2021
Ethereum too hit an all-time high — reaching $3,450 just two hours before press time on Monday evening.ETH crossed the $3,000 mark on Monday and is now valued above The Walt Disney Company (NYSE:DIS) and PayPal Technologies Inc (NASDAQ:PYPL).
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