ETH prices have been trading over 2,300% on the Bitfinexs Bitcoin exchange since mid-March.
That’s nearly 1,500% increase in value in just 24 hours.
Thats a big jump for Ethereum and a clear sign that it could be a huge breakout for the cryptocurrency.
Bitcoin, on the other hand, is trading just below $500 per coin, which means it has barely begun its recovery from a severe selloff in late May that saw Bitcoin drop by nearly 80%.
ETH prices were trading around 1,400% on Monday and could end up being even higher on Tuesday.
It seems that Ethereum is now in the same price-to-earnings ratio as Bitcoin, which could lead to a big increase in the price of Ethereum at some point this year.
It also could mean a lot of investors are buying into Ethereum as a hedge against rising Bitcoin prices.