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Bitcoin Races to New-Highs above $56K, Ether Gains

Bitcoin hit a fresh high in Asian trading on Saturday, extending a two-month rally that saw its market capitalization cross $1 trillion a day earlier according to data from trading platform Bitfinex racing past the $52k posted on Friday.

The world’s most popular cryptocurrency rose to an record $56,620, taking its weekly gain to 18%. It has surged more than 92% this year.

Bitcoin Price
Bitcoin price chart

Bitcoin’s gains have been fueled by evidence it is gaining acceptance among mainstream investors and companies, such as Tesla Inc, Mastercard Inc and BNY Mellon.

Ether, the second-largest cryptocurrency by market capitalization and daily volume, hit a record $2,040.62, for a weekly gain of about 12%.

Ether is the digital currency or token that facilitates transactions on the Ethereum blockchain. In the crypto world, the terms ether and Ethereum have become interchangeable.

Bitcoin Ether
Ether, Ethereum Price chart

Ether futures contracts launched on derivatives exchange CME earlier this month.

Read: Tesla drives Bitcoin to a New High of $47K