Ethereum breaks $4,000 to hit record high
Jumped more than 6% to just below $4,175, and was last up around 2%
Reuters
May 11, 2021
WASHINGTON:
Cryptocurrency ethereum broke $4,000 for the first time on Monday, climbing to a new peak for a third day in a row on bets it may find new uses, although some analysts said it was overvalued at current levels.
Ethereum, the second-largest coin by market capitalisation, jumped more than 6% to just below $4,175, and was last up around 2%.
It has soared this year, fuelled by expectations of wider use, based in part on its role in decentralised finance - “DeFi” - platforms that facilitate crypto-denominated lending outside traditional banking.