The price of ether has hit a new all-time high, exceeding $60 for the first time ever.
Prices reached as high as $60.15 during morning trading, according to CoinDesk’s Ethereum Price Chart. Ether is the cryptocurrency that underlies the ethereum blockchain network.
As previously reported, prices have hovered above the $40 level since 22nd March, bouyed by what analysts say is a mix of positive sentiment and rising market liquidity. At press time, the price of ether is averaging about $59.
The price move comes days after the SEC disclosed that it has initiated the approval process for a proposed ether exchange-traded fund (ETF). The bid to launch the EtherIndex Ether Trust (the first proposed product of its kind) began in July 2016.
STORY CONTINUES BELOW
Recommended for you:
The bulk of the past day’s trading has taken place on digital currency exchange Poloniex, according to figures from CoinMarketCap, accounting for roughly $59m of the $202m in 24-hour volume reported by the site.
Hot air balloon image via Shutterstock; Graph via CoinMarketCap