Bitcoin hit a three-week high and one-time parody currency dogecoin steadied, arresting a sharp drop after comments from Tesla chief Elon Musk sent it tumbling on Sunday. Cryptocurrency ether broke past $4,000 on Monday, climbing to a new peak for a third session in a row on bets it may find new uses, lifting other digital currencies in its wake. Bitcoin hit a three-week high and one-time parody currency dogecoin steadied, arresting a sharp drop after comments from Tesla chief Elon Musk sent it tumbling on Sunday. Ether, traded using the ethereum blockchain, was last up around 6% for the day on the Binance exchange where it hit $4,119 around midday in Asia. Bitcoin rose to $59,603 and dogecoin steadied around $0.54.

Source: The Hindu May 11, 2021 04:41 UTC