Ethereum price tests the $500 level.

The second-largest cryptocurrency by market capitalisation hit a yearly high, testing the $500 level.

The chart below shows a volume-supported rally in price. After hitting the $500 level, the latest move pulled back somewhat.

15-minute chart of ETH/USD on the Bitstamp exchange from TradingView.

As of writing, Ethereum is trading around $497 (+5.4% in the last 24 hours). The asset’s market capitalisation is $56.4 billion, with a dominance index of 10.8% (data from CoinGecko).

ETH price reached its all-time high at $1,413.77 in January 2018. Since then the asset fell to $81.15, and then rose by 515%.

ETH price is still 65% below its historical maximum. Data: Messari.

Some coins among the top 10 outpaced Ethereum in price gains over the last 24 hours. For example, Litecoin rose 11.8%, and Polkadot 14.7%. Bitcoin’s price rose 3.9% over the last 24 hours.

Data: CoinGecko.

Against a positive price trajectory, Ethereum is seeing inflows into the DeFi segment. The total value locked in decentralized applications (DApps) is approaching $14 billion.

Data: DeFi Pulse.

The number of active users of ten popular DApps exceeded 1 million.

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