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Ether scales $4,600 to record high, bitcoin trails
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Ether, the world’s second-largest cryptocurrency, hit an all-time high on Wednesday, catching up with bitcoin’s rally and riding on news of wider blockchain adoption.
The ether token, which underpins the ethereum blockchain network, rose to as high as $4,643 in Asian hours, breaching the previous day’s $4,600 and taking the week’s gains to more than 10%.
In the days since bitcoin, the world’s largest cryptocurrency, hit its record high of $67,016.5 on Oct. 20, other tokens on the base layer of blockchain networks, known as Layer 1 networks, have gathered momentum.
Bitcoin (BTC) was trading around $63,078 and is up about 117% this year, while ether is up six-fold.
"Since the market reversal at the end of September, ether’s strength has been
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