News > Ether rallies to a new record above $2,500

Ether rallies to a new record above $2,500

Ether spiked as much as 8.5% on Thursday to a new record high above $2,560. The rally pushes the market capitalization of ether near $300 billion for the first time. An expert said the latest rally is spurred by the rise of DeFi apps as they build on top of Ethereum.

Ether thus far has surged 250% year-to-date amid a broader cryptocurrency rally led by bitcoin, whose market cap now stands at $1.1 trillion.