Referenced Symbols
#ETHCrossed2500 ETHUSD
+0.45%
BTCUSD
+1.20%
While ether has been lagging behind bitcoin, the second-largest crypto by market capitalization could hit a record high above $5,000 next year if its current demand-and-supply dynamics continue, according to blockchain analytics firm CryptoQuant.
Ether
ETHUSD
+0.45%
traded at around $3,922 late Friday, up 71.5% this year, according to Dow Jones Market Data. While ether’s performance is still impressive compared to many traditional assets, it has significantly underperformed bitcoin, which has gained 142% year to date.
While bitcoin
BTCUSD
+1.20%
has refreshed its record highs and rose above $100,000 in recent weeks, ether still traded more than 19% below its record high of $4,865 hit in November 2021.