Ether Hits $3000 as Bitcoin’s Crypto Dominance Declines

Gutov, who works in a Moscow-based staff-outsourcing firm by day, is among a growing number of Russians who have embraced mining as the price of cryptocurrencies such as bitcoin and ether has soared.

The largest digital currency now accounts for about 46% of total crypto market value of $2.3 trillion, down from roughly 70% at the start of the year, according to tracker CoinGecko.

Bitcoin remains the biggest cryptocurrency but the momentum in other tokens is drawing increasing interest, such as Ether, which breached $3,000 for the first time Monday after quadrupling this year.

Dogecoin, a token started as a joke in 2013 but now a social-media favorite touted by the likes of Elon Musk, has surged 15,000% to a market value of around $50 billion.

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