The ethereum price exploded to a new all-time high on Tuesday, headlining an altcoin rally that briefly forced bitcoin’s market share below 50 percent for the first time in more than a month.
At the height of the rally, which was buttressed by a stagnant bitcoin price, the cryptocurrency market cap rose to a record $643 billion. However, the bitcoin price took a steep decline Tuesday morning, and the flagship cryptocurrency dragged the wider markets down with it. At present, the cryptocurrency market cap is $608 billion, which nevertheless represents a single-day increase of $13 billion.
Bitcoin Price Takes Five Percent Hit
The bitcoin price declined nearly $1,000 on Tuesday, from $19,130 on Monday to $18,191 today. This represented a 24-hour decline of five percent and reduced bitcoin’s market cap to $304.7 billion.
Ethereum Price Post ATH Above $880
The same cannot be said of ethereum. For weeks, the ethereum price languished near $300 while bitcoin soared, but the second-largest cryptocurrency has entered December with a vengeance, and it has steadily chipped away at bitcoin’s dominant market share.
https://www.ccn.com/ethereum-price-posts-all-time-high-near-900-as-bitcoin-dominance-slips-below-50/
On Tuesday, the ethereum price ripped past $800 — and nearly passed $900 — to set a new all-time high at $882. Following the morning pullback, the ethereum price is trading at $824, which translates into a $79.5 billion market cap and represents a 24-hour gain of 12 percent.