Ethereum reached a new daily high of $978 at 16:26 UTC on the Binance exchange, coming close to four-digit territory it hasn’t touched in almost three years.
The cryptocurrency managed to reach its highest level since Feb. 18, 2018.
Ethereum “flippens” Charles Schwab
With its current market cap of $107 billion, the Ethereum network is bigger than Volkswagen, Dior, and Charles Schwab.
The largest altcoin is now close to surpassing its peak market cap of $132 billion that was recorded on Jan. 14, 2018.
Bitcoin’s dominance plunges
The monstrous uptick has taken a significant toll on Bitcoin’s market dominance that is now sitting just below 70 percent after hitting its highest level since July 2017.
The crypto king is changing hands below $33,000 after touching a new all-time high of $34,800 earlier today.
Altcoins rally together with Ethereum
Multiple altcoins, such as VeChain (VET) and Dogecoin (DOGE), have also rallied sharply higher, outperforming even Ethereum.
Even embattled XRP — which was once again flipped by Litecoin earlier today — is finally seeing some love from buyers.
Monero (XMR) is the only major altcoin that remains in the red. Privacy coins have been under some pressure after U.S.-based Bittrex announced its decision to delist them. While the reason behind the purge hasn’t been specified, it stoked regulatory fears.