The world’s second-largest cryptocurrency, Ethereum, has soared to a new all-time high following significant investor enthusiasm for Bitcoin alternatives in the nascent digital currency space.
The price of one ‘ether’ reached $US1430 ($1855) overnight after a surging rally that began days after the new year and saw the digital token grow 82 per cent in under three weeks.
Ethereum has now traded higher than in 2017, where a similar end-of-year rally saw the currency reach $US1400. The most recent price movement follows a similar boom in leading cryptocurrency Bitcoin, which hit over $52,000 in early January. Read more…..
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While Bitcoin continues to remain the “blue chip” of cryptocurrencies, 2020 has seen Ethereum trail in second place, as well as the rise in popularity of altcoins built on Ethereum, said Hong Fang, CEO of OKCoin.