Bitcoin breaches $56,000, ether up 12%

Bitcoin breaches $56,000, ether up 12%

Bitcoin rose to a record $56,620, taking its weekly gain to 18 per cent

Credit: Reuters Photo

Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalisation cross $1 trillion a day earlier.

The world's most popular cryptocurrency rose to a record $56,620, taking its weekly gain to 18 per cent. It has surged more than 92 per cent?this year.

Bitcoin's gains have been fuelled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Read | Bitcoin steams to new record; nears $1 trillion market cap

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12 per cent.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain. In the crypto world, the terms ether and ethereum have become interchangeable.

Ether futures contracts launched on derivatives exchange CME earlier this month.

 
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