Cryptocurrency ethereum hits new record high again; dogecoin slumps | Malay Mail

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NEW YORK, May 11 — Cryptocurrency ethereum climbed to a new peak for a third straight day yesterday on continued optimism about further growth in decentralised finance or “DeFi”, although some analysts said it was overvalued at current levels. Ethereum has soared this year, fuelled by the...

Tuesday, 11 May 2021 07:46 AM MYT

Ethereum, the second-largest coin by market capitalisation, hit an all-time high of US$4,200 and was last up around 5.2 per cent at US$4,133.40. “ got a lot more institutional involvement than people who haven’t followed the market believe,” said Chris Weston, head of research at brokerage Pepperstone.

Blockchain data provider Glassnode, in a research report yesterday, said there are indications that a portion of bitcoin capital is rotating toward ethereum and dogecoin.

 

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