coindesk.com
Ether (ETH) rose Tuesday to a record high price near $2,700 after a powerful three-day rally.
The price of ether, the native cryptocurrency of the Ethereum blockchain and the second-biggest overall, climbed as high as $2,683.30 around 16:00 coordinated universal time (12 p.m. ET), based on CoinDesk data. As of press time, ether was changing hands around $2,640, up 5.6% in the past 24 hours.
The new high came after three straight daily gains totaling 19%. The move extended the cryptocurrency’s stunning rally this year: It has tripled already in 2021, amid trader enthusiasm over growth in blockchain applications like decentralized finance (DeFi) and non-fungible tokens. Bitcoin (BTC), for comparison, is up 89% this year.
“Ether has picked up its head, and looks poised for a few more days of outperformance,” said Katie Stockton, a technical analyst for the consulting firm Fairlead Strategies.