Etherum nears all-time high in wake of Bitcoin’s record

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Etherum is close to following Bitcoin is setting a new all-time high, as the second-largest cryptocurrency put on a 44% charge over the past month.

The digital currency Ether hit a high of US$4,369.69 on Thursday, up 2% over 24 hours.

Its all-time high of US$4,384 was reached on May 12 this year.

In terms of market capitalization, ethereum is now topping $485bn.

Earlier this month, crypto industry data suggested Ethereum miners are hoarding their spoils, with miner’s holdings of Ether were at their highest level since 2016, just after the digital coin was launched.

Miners seemed to be holding more in the expectation of selling at higher prices in the future.


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