SINGAPORE: Cryptocurrency Ether hit a record high of US$3,017 on Monday (May 3), extending last week's rally in the wake of a report that the European Investment Bank (EIB) could launch a digital bond sale on the Ethereum blockchain network.
Ether rose 2 per cent on the Bitstamp exchange to hit the milestone early in Asia trade. It is up more than 300 per cent for the year so far, outpacing a 95 per cent rise in the more popular Bitcoin.
Ether is the digital currency or token that facilitates transactions on the Ethereum blockchain and it is the second-largest cryptocurrency by market cap behind Bitcoin.
Bloomberg reported last Tuesday, citing unnamed sources, that the EIB plans to issue a two-year €100 million digital bond.
Bitcoin hovered at around US$58,000 on Monday.