Ether has more than doubled in value this year, outperforming bitcoin.
Ethereum’s ether cryptocurrency rallied to new lifetime highs early on Tuesday amid a continued drying up of sell-side liquidity in the market.
The second-largest cryptocurrency registered a record high of $1,824.59 during the European trading hours, surpassing the previous peak price of $1,761.35 hit on Feb. 5, according to CoinDesk 20 data.
The cryptocurrency is now trading lower at $1,764, representing a 5.5% gain on a 24-hour basis. Ether (ETH, +1.48%) has more than doubled in value this year, outperforming bitcoin (BTC, +7.3%)‘s 58% rise.