• The Ether price has risen by 530% in 2021, which is a greater gain than bitcoin's doubled.
• According to Bloomberg data, the performance gap is greater than 400 percentage points since 2015.
• Ether has had a strong November on a variety of business developments around the ethereum network.

Ether is poised to record a November win and its growth of more than 500% in 2021 surpasses that of the rival cryptocurrency bitcoin.

On Tuesday, the token of the Ethereum network rose as high as 6% to trade at $4,700. It was expected to increase by more than 8 percent for November, when it crossed over $4,600. This was partly due to growth prospects for the Blockchain platform as a result of a sharper focus in the metaverse as Facebook (now called Meta) increased its commitment in expanding in the online, 3-D space.

Ether's year-to-date performance was also impressive, with a rise of 530% in comparison to bitcoin's growth of approximately 101%. According to Bloomberg data, the performance gap between cryptocurrencies was more than 400 percent widening since 2015.

According to CoinShares updates on Monday, institutional investors invested $23 million in ethereum products. This was the fifth consecutive week of inflows.

This month has seen a number of positive developments for Ether. CME Group was set to launch microether futures on December 6, the largest derivatives exchange in the world. Sandbox, a metaverse gaming platform that is backed by Ethereum, has been attracting millions of dollars in funding, including from Softbank, the Japanese heavyweight.

The ether has also been boosted by virtual land deals that have brought in millions of dollars through Sandbox and other ethereum-based platforms.

In terms of market capitalization, the cryptocurrency is still behind bitcoin. It was valued at $550 billion Tuesday, compared to bitcoin's $1.1 trillion valuation. Investors are still watching to see if Ethereum will surpass bitcoin in market capitalization. Rahul Rai, manager of crypto hedge funds, told Insider that ether will surpass bitcoin in the "flippening" (a term experts use to describe the process by which ether outgrows bitcoin).

Bitcoin was almost 1% lower at $57.731 during Tuesday's session