HONG KONG, Oct.29 (Reuters) – Ether, the world’s second largest cryptocurrency, hit an all-time high on Friday, just over a week after the biggest rival bitcoin set its own record.
The token, which underpins the ethereum blockchain network, rose 2.6% to $ 4,400 in Asian hours, surpassing the previous high of $ 4,380 set on May 12.
Cryptocurrency markets have rallied sharply in recent weeks and the ether has risen more than 60% since its low in late September.
Bitcoin, which hit its all-time high of $ 67,016 on October 20, last rose 1.4% to $ 61,457, up about 50% since late September.
However, among the biggest recent players in cryptocurrency is the cryptocurrency based on shiba inu memes, which has risen in price by around 160% this week and is now the eighth largest token in the world.
Shiba inu is a dogecoin spinoff, itself born as a satire of a cryptocurrency frenzy in 2013, and has virtually no practical use. Read more
Reporting by Alun John; Editing by Simon Cameron-Moore
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