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Alt season rush: Ethereum and DeFi get in shape for another hot summer

CryptocurrencyMay 10, 2021 07:40AM ET
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Alt season rush: Ethereum and DeFi get in shape for another hot summer

Altcoins like Ether (ETH), Dogecoin (DOGE) and Ethereum Classic (ETC) are spearheading a new alt season that seems to have taken off with a bang. Since a rising tide usually lifts all boats, there are several other cryptocurrencies that are benefiting from this growing interest in altcoins. Ether, however, may be the one generating the waves.

The price of ETH, the flagship altcoin, increased more than 65% over 30 days to finally break through the $3,500 barrier on May 6. This takes the yearly gains for the token to over 1,500%, as it was trading in the $215 range this time last year. The price surge led its market capitalization to go beyond $400 billion for the first time.

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Alt season rush: Ethereum and DeFi get in shape for another hot summer
 

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