Digital Currency Ethereum jumps to Record High of $ 2,683.65

Ethereum, the world’s second largest cryptocurrency after Bitcoin, hit a record $ 2,683.65 on the Bitstamp Exchange on Tuesday. 

Ethereum trimmed its gains to 7.39 % at $ 2,640.18 by 19:00 GMT, while Bitcoin rose 3.18 % to $ 54,968,  but still remained 15% below the record high of 64,895.22 set on April 14.

On Monday, digital currencies saw a surge from reports that JPMorgan Chase (JPM.N) plans to offer a managed bitcoin fund; this is the latest indication that what has been accepted by many speculative investments has gained institutional legitimacy. Read more

On March 1, Goldman Sachs restarted the cryptocurrency trading desk a few weeks after Tesla Inc (TSLA.O) announced that it had purchased $ 1.5 billion worth of bitcoin. 

But cryptos showed some resistance after US President Joe Biden announced plans to increase capital gains taxes, a move that could hinder investment in digital assets.