Smaller digital coins soar as bitcoin powers on towards record high
By Tom Wilson
LONDON (Reuters) – Digital currencies Ethereum and XRP soared on Monday, gaining momentum as bitcoin powered on towards its all-time high.
Ethereum, the second largest cryptocurrency by market capitalisation after bitcoin, jumped 7% to its highest since June 2018, taking its options to better than 25% over the past three days alone.
Traders acknowledged ethereum, which commonly strikes in tandem with bitcoin, has been boosted by rising demand ahead of an enhance to its blockchain group – due in early December – that is extensively anticipated to make it quicker and safer.
The enhance might indicate “further people and corporations can use ethereum for monetary train, reasonably than merely financial shopping for and promoting,” acknowledged Ross Middleton, co-founder of cryptocurrency change DeversiFi.
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