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  • Home
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  • >Price Check: Ethereum Officially on Fire with New $4,000+ Record

Price Check: Ethereum Officially on Fire with New $4,000+ Record

Ethereum continued its strong showing over the past week, having just broke the $3k barrier last week the number one altcoin was able to keep its momentum going and break $4k early this morning, hitting an all time high of $4,165 a piece.

Bitcoin did not do much in the meantime, but this has allowed even more altcoins to have extremely nice breakouts over the past week with a lot of all-time highs. A new memecoin called SHIBA has entered the scene, with even worse tokenomics than Dogecoin, but has somehow entered the top 20 assets.

Ethereum seems to be on fire as it surpassed the long-standing $4,000 price mark.

In this weekly segment we will be looking at the top gainers and losers of the week. This will be done in terms of dollar value with a focus on percentage gains of coins within the top 100 by market capitalization. The fast growth of the crypto and blockchain industry in 2021 means that there are more assets than ever that deserve attention and are experiencing notable gains and losses.

Each week we will also take a look at Bitcoin’s performance, and how it has performed both compared to last year at this time, and its comparative performance to the Dow Jones and S&P 500 Index.

Let us look at the biggest winners and losers of the past week.

Biggest Dollar Increases

The somewhat stable week for Bitcoin has allowed many altcoins to experience significant growth over the past week. If Bitcoin continues to stay somewhat stable it seems likely that many altcoins will have a chance to make big gains. Here are the biggest gainers from the past week:

  • Ethereum (ETH), ranked 2nd, has gained over 30% after gaining over 26% last week and it is trading at just over $4.1k a piece. ETH hit a new all time high of $4,165 earlier today.
  • Dogecoin (DOGE), ranked 4th, has gained almost 27% after gaining over 50% last week and it is now trading around 50 cents a piece. It reached as high as 73 cents leading up to Elon Musk’s appearance on Saturday Night Live, before dropping 30% immediately after.
  • Cardano (ADA), ranked 5th, has gained over 28% and is trading at around $1.74 a piece. Cardano hit an all time high of $1.83 on May 9.
  • Bitcoin Cash (BCH), ranked 9th, has gained over 42% and it is trading around $1,435 a piece, still not close to its all time high of over $4k 3 years ago.
  • Litecoin (LTC), ranked 10th, has gained over 37% and it is trading around $389.78 a piece. It hit an all time high of $412.96 earlier today.
  • Chainlink (LINK), ranked 11th, has gained over 23% and is trading around $49.84 a piece. It hit an all time high of $52.88 earlier today.
  • Stellar (XLM), ranked 13th, has gained over 30% and is trading around 73 cents a piece.
  • Ethereum Classic (ETC), ranked 16th, has ridiculously gained over 143% and is trading around $120.16 a piece. ETC hit an all time high of $176 earlier in the week.
  • SHIBA INU (SHIB), ranked 18th, has gained an absolutely dumbfounding 1647% over the past week and it is trading at a little under 3 thousandths of a cent a piece. Be wary of investing in this joke of an asset, half is owned by one person.
  • EOS, ranked 23rd, has gained over 53% and it is trading around $10.24 a piece.
  • Zcash (ZEC), ranked 47th, has gained over 27% and it is trading around $316.28 a piece.
  • Telcoin (TEL), ranked 54th, has gined an enormous 238% over the past week and it is trading around 5.5 cents a piece. Hit an all time high of just under 6 cents earlier today.
  • Qtum (QTUM), ranked 58th, has gained over 64% and is trading around $25.72 a piece.
  • Bitcoin Gold (BTG), ranked 63rd, has gained over 27% and is trading around $123 a piece.
  • Ontology (ONT), ranked 65th, has gained 29% after gaining 28% last week and is trading around $2.55 a piece.
  • Revain (REV), ranked 81st, has gained over 51% and is trading at just under 2 cents a piece.
  • Bitcoin Diamond (BCD), ranked 89th, has gained over 205% and is trading around $7.43 a piece.
  • Lisk (LISK), ranked 96th, has gained over 41% and is trading around $8.50 a piece.

Biggest Dollar Decreases

Unlike last week when Bitcoin brought up nearly every ship with its rising tide, this week we have many assets in the red, as usual some of them were some of the biggest gainers from last week. Here are the biggest dollar decreases from the last week:

  • Uniswap (UNI), ranked 12th, has lost over 8% after gaining almost 25% last week and it is trading around $39.37 a piece.
  • Solana (SOL), ranked 17th, has lost 9% and it is trading around $43.71 a piece.
  • Filecoin (FIL), ranked 21st, has lost over 10% and is trading around $143.40 a piece.
  • Terra (LUNA), ranked 28th, has lost over 7% and it is trading around $16.67 a piece.
  • PancakeSwap (CAKE), ranked 29th, has lost over 11% after gaining almost 30% last week and 41% the week before and is now trading around $37.46 a piece.
  • Aave (AAVE), ranked 31st, has lost over 9% after gaining 28% last week and it is trading around $468 a piece.
  • Klaytn (KLAY), ranked 37th, has lost just under 11% this week after being one of the only losers last week and it is trading around $2.13 a piece.
  • Crypto.com Coin (CRO), ranked 43rd, has lost over 8% and the native token of Crypto.com Exchange is now trading around 17 cents a piece.
  • Chiliz (CHZ), ranked 56th, has lost over 10% and it is trading around 47 cents a piece.
  • Hedera Hashgraph (HBAR), ranked 59th, has lost almost 12% and it is trading around 29 cents a piece.
  • Holo (HOT), ranked 60th, has lost over 11% and it is trading around 1.3 cents a piece.
  • BakeryToken (BAKE), ranked 99th, has lost almost 20% after gaining 409% last week and is trading around $5.79 a piece.

Bitcoin Still Searching for $60k

While a stable Bitcoin is nothing to be concerned about, holders are likely wondering if and when it will make its way back to the $60k threshold and whether that may push the king of crypto to a new high. Altcoin holders are likely okay with the current stability of Bitcoin considering the gains the rest of the market has been experiencing.

Bitcoin is currently trading at just under $58.5k, still beyond overshadowing its price from this time last year. On May 10, 2020, Bitcoin was trading at just under $8.7k, so it is just under 7x higher than it was last year at this time.

Bitcoin in Line with Traditional Markets

With a little over 1.2% gained this week, Bitcoin continues to perform in a similar if not better manner than the traditional markets. The Dow Jones Industrial Average has gained 2.73% over the past week and the S&P 500 Index has gained just under 1%. Of course, if you zoom out of weekly charts and look at monthly gains, it is not even a contest, Bitcoin is grossly outperforming both the DOW and S&P.

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About the Author

Evan Jones

Evan Jones was introduced to cryptocurrency by fellow CryptoVantage contributor Keegan Francis in 2017 and was immediately intrigued by the use cases of many Ethereum-based cryptos. He bought his first hardware wallet shortly thereafter. He has a keen and vested interest in cryptos involving decentralized backend exchanges, payment processing, and power-sharing.

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