Ether, the world’s second-largest cryptocurrency rose to $2,000 for the first time, as the rally in digital assets continues to broaden beyond Bitcoin.
“We’re now really breaking higher and that will very likely attract buying activity,” said Julius de Kempenaer, senior analyst at StockCharts.com. “Ether is gaining in relative strength versus Bitcoin.”
The token has mirrored the gains in Bitcoin over the past year amid a flood of stimulus aimed at boosting the global economy during the Covid-19 pandemic. Critics warn that crypto is a speculative bubble that will likely burst.
Ether has a market value of about $230 billion, compared with about $1.1 trillion for Bitcoin, according to data from CoinMarketCap.com.