The cryptocurrency Ether has set new all-time high records after the cryptocurrency reaches $4,000 on Monday. Ethereum hit a new height of success for a consecutive third session. It has been disclosed that Ether, traded using the Ethereum blockchain, was last increase around 6% for the day on the Binance exchange.
Ether reaches $4,119 around midday in Asia on Monday. Bitcoin touches $59,603 and dogecoin stabilized over $0.54. This year the trend of cryptocurrency usage increases which caused the cryptocurrencies to break a new record.
This year Bitcoin has doubled, ether has climbed more than fivefold and dogecoin surged more than a hundredfold. There is the reason for the high records of Ether. The Ethereum blockchain has been lately updated, which traders think might make it a key player in a trend called “DeFi” or decentralized finance, where digital platforms take away banks’ supremacy of financial transactions.
Additionally, as per the CoinMarketCap, the amount of ether tokens in exchange is $477 billion in comparison with the $1.1 trillion for bitcoin and $69 billion for dogecoin. Head of research at brokerage Pepperstone, Chris Weston, stated: “I think (crypto has) received a lot more institutional participation than individuals who haven’t supported the market believe.”