Ether is the digital currency that facilitates transactions on the Ethereum blockchain. Ethereum is a platform or a community-run technology that powers the native cryptocurrency called Ether (ETH). However, in the crypto world, the terms Ether and Ethereum have become interchangeable.

Ether, the world's second-largest cryptocurrency in terms of market capitalization, reached a new all-time high on April 28. This came as no surprise for two reasons. Firstly, Ether has been in the markets for six years now and its popularity only grew from the beginning. Secondly, the usage of Ether is vast and you can use it to not only purchase goods and services online but also to support (and buy) dapps (decentralized apps). 

Ether Yearly Trend

This new high came after three straight daily gains of 19%. This extended the cryptocurrency’s rally in 2021 in which it already tripled its value. The growth was affected by media reports about the European Investment Bank's plans to launch a "digital bond" sale on the Ethereum blockchain network. As a consequence, we saw a sudden increase in the ETC price to a new record of $2,713.95 on Wednesday.

Although some analysts and cryptocurrency fans say that Ether will always be secondly favourable compared to Bitcoin, the increase of market capitalization to an amazing 304 billion dollars might be the sign to reconsider the possibility of some change in this perception.

Take a look at the last part of our infographic that compares the Dominance Index of Bitcoin and Ethereum’s token - Ether. The DI allows traders to understand and measure crypto market capitalization that is often compared to the overall market for the major cryptocurrencies that are trending at this moment. As you can see, the Bitcoin DI fell by more than 20% from the beginning of the year and Ether DI rose almost 5% in the same period of time.

Although Bitcoin is still untouchable and far ahead of all the other cryptocurrencies, Ether is definitely worth considering when planning to invest in the crypto market!