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Ethereum Classic Hits New All-Time High, Outperforming Ethereum In Past Week

May 3, 2021 9:49 pm
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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%.

See Also: Why Is Ethereum Classic Surging, How Is It Different From Ethereum?

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.

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). 

Read Next: Dogecoin Hits Another All-Time High Just Below 45 Cents Amid Elon Musk-SNL Speculation

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