Ethereum extends gains to rise 8%; bitcoin firms

Cryptocurrency Ethereum extended gains to rise more than 8% on Monday to $2,587 but remained 40% below a record high of above $4,300 hit earlier this month.

Reuters

At 1153 GMT, it was trading up 7.4% at $2,565.69.

Larger rival Bitcoin also gained in its wake with the world’s biggest and best-known cryptocurrency rising 3.7% to $36,977 in quiet trading with London and U.S. markets shut for holidays.

Bitcoin has been less volatile in recent days but is down by more than 35% this month, weighed by growing regulatory pressures on the sector.

Latest positioning data for the week ended May. 25 confirmed the trend with net short positions nearly doubling from the previous week, which was the smallest net short since late March last year.

In the latest salvo against the cryptocurrency, Bank of Japan Governor Haruhiko Kuroda said much of the trading was speculative. His remarks followed China’s recent efforts to crack down on mining activities. read more

It is currently trading at levels last seen in February and at roughly half its peak value of $65,000 seen in April.

Our Standards: The Thomson Reuters Trust Principles.

Source https://www.reuters.com/technology/ethereum-rises-5-2509-bitcoin-firm-2021-05-31/


Linking Shareholders and Executives :Share Talk

If anyone reads this article found it useful, helpful? Then please subscribe www.share-talk.com or follow SHARE TALK on our Twitter page for future updates. Terms of Website Use All information is provided on an as-is basis. Where we allow Bloggers to publish articles on our platform please note these are not our opinions or views and we have no affiliation with the companies mentioned

Weekly Newsletter

Sign up to receive exclusive stock market content in your inbox, once a week.

We don’t spam! Read our privacy policy for more info.