Ether continued its climb this morning, surpassing $3,800 and hitting a three-month high. The perennial second-place cryptocurrency next to Bitcoin experienced a nearly 7% jump in the last 24 hours.
Ethereum's cryptocurrency rose as high as $3,841 in the last day. The digital coin vaulted above the $3,500 price ceiling it had trouble exceeding for most of August.
Since early August, when Ether was trading at around $2,500, Ether is up about 50%, according to price-tracking data provided by CoinDesk. Just this week the coin is up about 20%.
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With its price spike this week, Ether widened the gap between returns from the cryptocurrency compared to returns from Bitcoin, the SP 500, and the Dow Jones industrial average in the last year. The coin gave holders a more than 700% return over the past year as of Thursday, compared to just over 300% returns from Bitcoin and 26% and 21% from the SP 500 and Dow Jones, respectively.
Ether has already climbed more than 400% in 2021, and some experts say it could be headed toward $4,000 as it benefits from increased transactions and a spike in NFT purchases on the Ethereum blockchain. The last time Ether jumped above $4,000 was in mid-May, promptly followed by a precipitous crash in which its price more than halved afterward.