Nov 3 (Reuters) – Ether, the world’s second-largest cryptocurrency, hit an all-time high on Wednesday, catching up with bitcoin’s rally and riding on news of wider blockchain adoption.
The ether token, which underpins the ethereum blockchain network, rose as high as $4,670.81, as of 3:15 p.m. EDT.
The cryptocurrency extended its gains, breaching the previous day’s $4,600 level, after the U.S. Federal Reserve announced a tapering of its asset purchases, but held to its belief that high inflation would prove “transitory” and likely not require a fast rise in interest rates. read more
Ether is up more than 10% this week.