Ethereum, the world's second most popular cryptocurrency, continued its record-breaking upswing Tuesday to set an all-time high of $850. The digital currency touched new heights afternoon in Asia, before dipping slightly.
Ethereum has been gaining for more than a week, adding about 50 percent to the price since then.
It broke through the $500, $600 and $700 price barriers for the first time, and then hit $800 mark Tuesday.
Launched in 2015, the value of Ether has increased by around 9000 percent since the start of this year, according to The Telegraph. Its market capitalization has jumped to $82 billion from $722 million.
Asian investors, especially, the South Koreans, have played a critical role in boosting the currency price.
South Korea has emerged as the world's second-largest market for the cryptocurrency.
Ethereum, unlike Bitcoin, has generally been seen in a more positive way and has become the second largest digital currency in two years.
Meanwhile, the Income Tax department of India issued notices to around half a million high net worth bitcoin investors and traders in the country.
In addition, the Securities and Exchange Board of India (SEBI) announced new scrutiny initiatives regarding initial coin offerings (ICOs) which it describes as "Ponzi Schemes."
by RTT Staff Writer
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