2/2 © Reuters. A representation of the virtual currency Ethereum is seen in front of a stock chart in this illustration 2/2
SINGAPORE (Reuters) – It hit a new high in Asian trading on Saturday, extending a two-month rally that saw its market cap cross $ 1 trillion a day earlier. The world’s most popular cryptocurrency rose to a record $ 56,620, taking its weekly profit to 18%. It has increased more than 92% this year. Bitcoin’s gains have been driven by evidence that it is gaining acceptance among major investors and companies such as Tesla (NASDAQ 🙂 Inc, Mastercard Inc (NYSE :), and BNY Mellon (NYSE :). Ether, the second largest cryptocurrency by market capitalization and daily volume, hit a record high of $ 2,040.62, for a weekly gain of around 12%. Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the world of cryptocurrencies, the terms ether and ethereum have become interchangeable. The Ether futures contracts were launched on the CME derivatives exchange earlier this month.