Ethereum nears all-time high in wake of Bitcoin record

Etherum is close to followingBitcoin is setting a new all-time high, as the second-largest cryptocurrencyput on a 44% charge over the past month.

Thedigital currency Ether hit a high of US$4,369.69 on Thursday, up 2% over 24 hours.

Itsall-time high of US$4,384 was reached on May 12 this year.

In terms of market capitalization, ethereum is now topping $485bn.

Earlier this month, crypto industry data suggested Ethereum miners are hoarding their spoils, withminers holdings of Ether were at their highest level since 2016, just after the digital coin was launched.

Miners seemed to be holding more in the expectation of selling at higher prices in the future.