May 13, 2021

Dogecoin and ethereum climb to record-highs


Visual representations of digital cryptocurrencies. Photo: Yuriko Nakao/Getty Images

Visual representations of digital cryptocurrencies. Photo: Yuriko Nakao/Getty Images

Cryptocurrencies dogecoin (DOGE-USD) and ethereum (ETH-USD) hit all-time highs on Tuesday morning in London following a rise in institutional interest in both tokens. 

The joke token dogecoin was up more than 47%, to trade at around $0.48 by 2.45pm in London. Ethereum, the second most popular cryptocurrency, broke the $3,500 mark earlier in the session to trade around 12% higher. 

Ethereum’s previous all-time high was $3,456.57 (£2,489.18)— a consolidation of a rally of around 360% this year alone. 

Meanwhile, bitcoin (BTC-USD) was down by around 4.5%. 

“Even though ETH’s price is touching highs unseen before, we can assess its potential for appreciation by looking at the ETH/BTC pair, which is still trading well below its all-time-high over 0.15 BTC,” said Joe DiPasquale, CEO of cryptocurrency hedge fund BitBull Capital. 

“The most recent resistance level on the ETH/BTC pair was 0.05, which…

Read the Whole Story