Ether scales US$4,600 to record high, bitcoin trails

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Ether, the world's second-largest cryptocurrency, hit an all-time high on Wednesday, catching up with bitcoin's rally.

The ether token, which underpins the ethereum blockchain network, rose to as high as $4,643 in Asian hours, breaching the previous day's $4,600 and taking the week's gains to more than 10%.

"Ethereum has been the clear winner of the Layer-1s for what we believe will be a substantial shift in a potentially prolonged market sentiment uplift. Ethereum will also continue to play a major role in the NFT and metaverse ecosystem build out," he said. Smaller tokens too have seen rising interest after Facebook Inc rebranded itself into Meta to focus on building the"metaverse", a shared virtual environment.

Source: Digital Coin News (digitalcoinnews.net)

 

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