Cryptomania is sweeping Wall Street and it’s sending digital currencies to new heights.
Ether, the second largest cryptocurrency by market capitalization, soared past $600 a token for the first time Tuesday. The red-hot digital currency was trading up more than 20% at $616 at 10:35 a.m. ET, according to data from Markets Insider.
Across the vast market for digital coins records are being set. Bitcoin reached a record on Monday above $17,300 and litecoin hit a record above $300 Tuesday morning.
Ether’s record tear follows the announcement Monday of a data quality control project on Ethereum, the blockchain network underpinning ether, by a group of banks led by Switzerland-based money manager UBS. Ethereum, unlike bitcoin, can support applications on its network for projects outside of digital money, such as so-called smart contracts.
Source/More: Ethereum soars above $600 after a group of big banks announce a new project on its blockchain | Markets Insider
