INSUBCONTINENT EXCLUSIVE:
Ether hit all-time high prices on WednesdayEther, the world's second-largest cryptocurrency, hit an all-time high on Wednesday, catching
rose to as high as $4,643 in Asian hours, breaching the previous day's $4,600 and taking the week's gains to more than 10 per cent.In
the days since bitcoin, the world's largest cryptocurrency, hit its record high of $67,016.5 on Oct
20, other tokens on the base layer of blockchain networks, known as Layer 1 networks, have gathered momentum."The correlation of crypto
versus equities and risk-on sentiments is high," said Danny Chong, chief executive officer of decentralised asset tracking platform
Tranchess, who expects further gains over the quarter."Everyone is expecting a bull run with the absence of negative news," said Chong
"To decide the depth of the move, one should ask what can bring it down?"Bitcoin (BTC) was trading around $63,078 and is up about 117 per
with BTC and other majors," said Ryan Rabaglia, managing director and global head of trading at digital asset platform OSL."Ethereum has
been the clear winner of the Layer-1s for what we believe will be a substantial shift in a potentially prolonged market sentiment
cryptocurrency adoption by banks, growth of non-fungible tokens on virtual gaming platforms, launch of bitcoin futures-based United States
ETFs and a need among investors for diversification in an uncertain interest rate environment have pushed several blockchain tokens,
Meta to focus on building the "metaverse", a shared virtual environment.Australia's largest bank, Commonwealth Bank of Australia, said on
Wednesday it will become the country's first to offer retail clients crypto services.According to digital assets researcher CryptoCompare,
billion, record highs for both categories.
