ETH rally continues, with its price trading near $3,100 for the first time

Ether (ETH), the world's second-largest cryptocurrency by market capitalization, has crossed the $3,000 mark for the first time.

At the time of writing, the ETH price is trading near $3,100 on Coinbase, according to tracker TradingView. The price has continued to rally this year, with gains surging above 300%.

Over the past year, ETH's price has gained over 1,400%. In May 2020, ETH was trading around $200.

The meteoric rise of ETH has even outpaced that of bitcoin, which has gained around 550% over the past year.

Bitcoin is currently trading at around $58,000. It was priced at about $9,000 in May 2020.

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