May 12, 2021

Ethereum hits record high, outpacing bitcoin in monster 2021 surge


CNBC.com’s MacKenzie Sigalos brings you the day’s top business news headlines. On today’s show, Kate Rooney explains Ethereum’s impressive rise in 2021 and how it differs from other cryptocurrencies like bitcoin. Plus, Robert Frank breaks down what we know and don’t know about how Bill and Melinda Gates’ divorce will affect their philanthropic foundation.

Ethereum hits new record high above $3,400, extending its more than 300% rally this year

GUANGZHOU, China — Ether, the digital coin linked to the Ethereum blockchain, hit an all-time high of $3,456.57 as the cryptocurrency extends a rally that has seen its price gain over 350% this year.

The digital coin pared some of those gains in Tuesday morning trade in London and was trading at $3,369.74 at 11:20 a.m., according to CoinDesk data.

Interest in cryptocurrencies has surged over the past year with bitcoin continuously pushing new record highs. A number of factors including rising institutional interest and major companies such as…

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