Bitcoin latest – Ethereum price hits record high to soar above $3,400 plus Dogecoin and cryptocurrency updates

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ETHEREUM soared over $3,000 this weekend, in turn quadrupling its value in 2021.

It broke past $3,400 on Monday afternoon, to set a new record high.

It was a dazzling rally that has outshone the bigger Bitcoin, with investors betting that ether will be of ever greater use in a decentralised future financial system.

The Ether/Bitcoin cross rate has soared more than 100 per cent so far this year.

There was a 2.5-year high on Sunday, pointing to a rotation into the second-biggest cryptocurrency as investors diversify their exposure.

On Sunday, a new record was broken as Ethereum reached $2,953 – up nearly 1,500 per cent since this time last year. One analyst claimed this week that “a ride to $5,000 is imminent”.

This means its value has risen by more than 1,300 per cent in less than a year and is currently outperforming Bitcoin in terms of percentage growth.

The price of dogecoin shot up from $0.25 to $0.30 in less than 15 minutes after Musk posted a cryptic tweet reading: “The Dogefather” – “SNL May 8”.

Read our cyptocurrency live blog below for the very latest updates…

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