Ethereum extends gains to rise 8%; bitcoin firms

Ethereum extends gains to rise 8%; bitcoin firms

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The cryptocurrency Ethereum continued to rise on Monday, rising by more than 8% to $2,587, but still 40% below the record high of $4,300 touched earlier this month.

At 1153 GMT, its trading price rose by 7.4% to $2,565.69.

Big rival Bitcoin also rose, with the world’s largest and most well-known cryptocurrency rising 3.7% to $36,977, with the London and US markets on holiday.

Bitcoin has been less volatile in recent days, but it has fallen by more than 35% this month due to increased regulatory pressure on the sector.

The latest positioning data for the week as of the end of May. This trend was confirmed on the 25th. The net short position almost doubled from the previous week, which was the smallest net short position since late March last year.

In his latest attack on cryptocurrencies, Haruhiko Kuroda, the governor of the Bank of Japan, stated that most transactions are speculative. His speech follows China’s recent efforts to crack down on mining activities.

Its current trading price is the highest level since February, about half of the peak of $65,000 in April.

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