Digital currency ethereum jumps to record high- Technology News, Firstpost

(Reuters) -Ethereum , the world’s second largest crypto currency after Bitcoin, on Tuesday rose to a record high of $2,683.65 on the Bitstamp Exchange.

Ether was last up 4.32% at $2,644.07. Bitcoin, was last up 1.68% at $54,984.31 but still more than 15% below its record high at 64,895.22 set on April 14.

On Monday, the digital currencies got a boost from reports that JPMorgan Chase is planning to offer a managed bitcoin fund, the latest indication that what is considered by many a speculative investment is gaining institutional legitimacy.

On March 1 Goldman Sachs restarted its cryptocurrency trading desk, just weeks after Tesla Inc announced it had purchased $1.5 billion in bitcoin, sparking a rally.

But cryptos hit some resistance after U.S. President Joe Biden unveiled plans to raise capital gains taxes, a move which could curb investment in the digital assets.

(Reporting by Stephen Culp and Kevin Buckland; Editing by Aurora Ellis)

This story has not been edited by Firstpost staff and is generated by auto-feed.