Ethereum price hits $3.5K record as Winklevoss exchange adds Dogecoin

CoinTelegraph

Ether (ETH) hit $3,500 on May 4 as the star of this week’s altcoin rally battled Dogecoin (DOGE) for returns supremacy.

ETH/USD 1-hour candle chart (Bitstamp). Source: Tradingview

Ethereum doesn’t stop at $3,500

Data from Cointelegraph Markets Pro and Tradingview followed ETH/USD as the pair broke through its latest historic boundary and continued climbing.

How To Get Free Crypto  

At the time of writing, the largest altcoin by market cap was in pure price discovery mode as it sought resistance above $3,500.

The week had already seen new highs for Ether price on a daily basis, with seven-day gains standing at 36%.

Among analysts and traders alike, the sense of excitement on the day was palpable. 

“I have been calling for $3600 $ETH for well over a month, but think it can go much higher,” Scott Melker told Twitter followers.  

Short-term price targets had called for $5,000 while zooming out, $10,000 and even $20,000 were not unheard of as Ether outperformed Bitcoin in dollar gains throughout the past year.

Coinbase Banner  

Cryptocurrency market cap dominance chart. Source: CoinMarketCap

Winklevoss calls Dogecoin “the people’s money”

On Tuesday, however, ETH was not alone. After somersaulting off its own all-time highs last month, Dogecoin returned with a vengeance, abruptly crushing its personal best to pass $0.50 for the first time. 

Discovery of a new price ceiling was likewise still in progress at the time of writing, with DOGE/USD taking out $0.55 on the back of 38% daily gains.

DOGE/USD 1-day candle chart (Bittrex). Source: Tradingview

The move came as major exchange Gemini announced that it had integrated support for Dogecoin, a day after trading platform eToro.

“Dogecoin is the people’s money. It’s organic, irreverent, and fun,” co-founder Tyler Winklevoss commented.

Bitcoin (BTC) predictably felt the heat from the altcoin advance, shedding both market dominance and price strength to near $55,000 for the second time in 24 hours.

FreeBitcoin Banner  

Go to Source
Author: William Suberg


Recommended Crypto Services, Products and Strategies:

The first thing any crypto investor needs is is a reliable and secure Crypto Wallet.  Whether you’re looking for an online wallet, hardware wallet, desktop or mobile wallet, Crypto Renegade provides you with all the Best Crypto Wallets in each category.

Best Crypto Wallets Banner

When you’re ready to buy more crypto, or exchange your coins for others, Crypto Renegade’s list of the Best Crypto Exchanges has you covered.  The Crypto Exchanges recommended here offer everything from simplicity and convenience to advanced trading platforms and profit sharing. 

Best Crypto Exchanges Banner

If you want to learn more about the methods and tools that can be used to find Great Crypto Projects, then be sure to check out Crypto Renegade’s strategy for How To Find The Best Cryptocurrency.

Crypto Strategy Banner

For those people that don’t have any money to invest right now, or just want to understand the technology a bit more, you’ll definitely want to check out Crypto Renegade’s Free Crypto Strategy and start collecting Free Coins today!

Free Crypto Banner

What do you think about cryptocurrency? Do you have any questions about it? Be sure to leave a comment below.

This site uses Akismet to reduce spam. Learn how your comment data is processed.