The exchange rates and logos of Bitcoin (BTH), Ether (ETH), Litecoin (LTC) and Monero (XMR) are visible on the screen of a cryptocurrency ATM of blockchain payment service provider Bity at the House of Satochi bitcoin and blockchain shop in Zurich, Switzerland on March 4, 2021. REUTERS / Arnd Wiegmann

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

Our Standards: The Thomson Reuters Trust Principles.

Leave a Reply

Your email address will not be published.