Update: Ether hit a new all-time price high of $414.90 at around 15:48 UTC today.
The price of ether, ethereum's native token, is closing in on record highs above $400.
Soon before press time, the world's second largest cryptocurrency by market capitalization had hit $413 – a whisker short of ether's all-time high of just over $414 set in mid-June.
As per CoinMarketCap, the ether-U.S. dollar (ETH/USD) exchange rate has appreciated by 12.61 percent in the last 24 hours. Week-on-week, ETH is up 24 percent, while on a monthly basis, it is up 43.33 percent.
And, of course, it can't be hurting that billionaire Mike Novogratz commented yesterday that ether could hit $500 by the end of the year.
Cat image via Shutterstock
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.