Cryptocurrency Ether Hits All Time High Of $4400

The cryptocurrency market has rallied strongly in recent weeks, with ether up more than 60%.

Hong Kong: Ether, the world’s second-largest cryptocurrency, hit a record high on Friday. That’s a little over a week after Bitcoin’s bigger rival set its own record.

Tokens backing the Ethereum blockchain network rose 2.6% to $4,400 in Asia time, breaking the previous May 12 record high of $4,380.

Cryptocurrency markets have rallied sharply in recent weeks, with ether up more than 60% from the valley at the end of September.

Bitcoin, which hit a record high of $67,016 on Oct. 20, rose 1.4 percent to $61,457, about 50 percent more than at the end of September.

However, one of the biggest moves in cryptocurrency in recent times is the Shiba Inu meme-based cryptocurrency. Its price is up about 160% this week and is now the eighth largest token in the world.

Shiba Inu is a spin-off of Dogecoin, born in 2013 as a satire about the cryptocurrency craze and almost impractical.