WASHINGTON (dpa-AFX) - With Bitcoin continuing to lose its dominance over the cryptocurrency market despite a brief revival over the weekend, the second most popular virtual currency Ether surged to its all-time high on Monday.
According to Coindesk, Ethereum soared to a record high value of $1,266.93$1.43 in trading at 05.00 UTC Wednesday after opening at $1,148.60.
However, it was mostly a downward trend after that, settling at $1109 in the afternoon, 3.37 percent down.
Etherium had an astonishing rise in the last week. The digital currency, valued at $764 Monday, crossed the $1000 mark on Friday.
Meanwhile, the price of bitcoin continues to stagger.
From the $17,000 level it reached over the weekend, the most popular crypto on Monday lost its weight heavily.
Opening at $16,178.50 Monday, Bitcoin reportedly lost its value by more than 11 percent to reach $14,348.
Copyright RTT News/dpa-AFX