Cryptocurrency ether hits all time high of US$4,400
FILE PHOTO: The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Monero (XMR) are seen on the display of a cryptocurrency ATM of blockchain payment service provider Bity at the House of Satochi bitcoin and blockchain shop in Zurich, Switzerland March 4, 2021. REUTERS/Arnd Wiegmann
HONG KONG : Ether the world's second largest cryptocurrency hit a all time high on Friday, a little over a week after larger rival bitcoin set its own record.
The token, which underpins the ethereum blockchain network, rose as much as 2.6per cent to US$4,400 in Asian hours, breaching the previous top of US$4,380 set May 12.
Cryptocurrency markets have rallied sharply in recent weeks, and ether is up over 60per cent since its late September trough.
Bitcoin, which hit its record high of US$67,016 on Oct. 20 was last 1.4per cent higher at US$61,457, up about 50per cent since late September.
Among the biggest recent movers in cryptocurrencies however, is meme-based cryptocurrency shiba inu whose price has rocketed around 160per cent this week, and is now the world's eighth largest token.
Shiba inu is a spinoff of dogecoin, itself born as a satire of a cryptocurrency frenzy in 2013, and has barely any practical use.
(Reporting by Alun John; Editing by Simon Cameron-Moore)
