Ethereum Hits New Record High

Ethereum breaks above $1,300 to hit a fresh all-time high on Wednesday. The second largest cryptocurrency by market capitalisation is defying its major rivals, which have slumped during morning trade. Both bitcoin and Ripple's XRP are significantly lower on the day. ET) as the chart below illustrates: Ethereum's recent rally first started after a fourth-quarter report on the performance of the currency — which is a decentralized network for people to run contracts on — showed that transaction volumes on its network doubled, according to a blog post , "surpassing 10 transactions per second for days at a time."