This year's 500% accumulated gain took Ether's (ETH) price to a $4,380 all-time high on May 12, and this rally was even more robust than the late-2017 move. The famous bull market, or bubble, depending on how you see it, took Ether's price on a 390% rally from $290 in November 2017 to $1,420 in mid-January 2018.
Maybe this year's mega rally was a DeFi and NFT bubble that will take another two years to reclaim its peak, but it seems premature to make a prediction now. However, some analysts, including Celsius Network CEO Alex Mashinsky, argue that Ether's "flippening" has already happened when comparing the breadth of assets under management.
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