Ethereum extends gains to fresh record above $3,400

# 06:39
4 May 2021

Cryptocurrency ether extended gains to another record peak on Tuesday, after breaking above $3,000 for the first time a day earlier as investors bet on its growing utility, APA reports quoting Reuters.

Early in Asia trade it traded as high as $3,457.64 on the bitstamp exchange , for a session rise of about 17%.

Traders have attributed the gains - which amount to some 365% for the year to date - to a catch up on bitcoin's late 2020 leap and as upgrades to the ethereum blockchain make it more useful. 

The ether/bitcoin cross rate stood at its highest in more than two-and-a-half years on Tuesday while bitcoin was steady at $57,295.