The rise of “Ether” came due to the rise of “Bitcoin”, and was affected by the news of the adoption of cryptocurrencies on a larger scale.
Ether, which is linked to the Ethereum blockchain, rose to 4,643 dollars in Asian trading hours, smashing Tuesday’s figure of 4,600 dollars, taking its gains during the week to more than ten percent.
Bitcoin was trading at about $63,078, up about 117 percent this year, while Ether has surged six times in value, Reuters reported.
“Since the market reversal at the end of September, the strength of Ether has been moving along with Bitcoin and other major currencies,” said Ryan Rapaglia, global head of trading at digital asset platform OSL.
Interest in smaller cryptocurrencies also grew after Facebook changed its name to Meta to focus on metaverses, a shared virtual reality environment.
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