SINGAPORE (Reuters) – Bitcoin hit a new high in Asian trading on Saturday, extending a two-month rally that saw its market capitalization cross $ 1 trillion the day before.
The most popular cryptocurrency in the world rose to a record $ 56,620, reaching its weekly gain of up to 18%. This year it has increased by more than 92%.
Bitcoin’s gains have been fueled by evidence that it is gaining acceptance among major investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.
Ether, the second largest cryptocurrency by market capitalization and daily volume, hit a record $ 2,040.62, with a weekly gain of approximately 12%.
Ether is the currency or digital token that facilitates transactions in the ether block chain. In the cryptographic world, the terms ether and ether have become interchangeable.
Ether futures contracts launched on the CME derivatives exchange earlier this month.
Reports by Vidya Ranganathan; Edited by William Mallard