Cryptocurrency roundup: new highs for bitcoin and ether as Twitter jumps on the crypto-wagon

With many cryptocurrencies surging to new highs this week, here are the stories that have caught our eye in the last seven days.

Cryptocurrency tokens
(Image credit: © Jack Taylor/Getty Images)

It can’t have escaped your notice that bitcoin hit yet another new high this week, topping $68,500 (or, if you prefer, just over £50,000) on Wednesday. And we all know what new highs make, said Dominic this week – more new highs! (Though bitcoin is currently down to around $64,000.)

But bitcoin wasn’t the outstanding performer, says CNN. That crown belongs to ether – bitcoin may have risen by 135% this year, but ether is up by 560% as crypto investors bet that it “will continue to be used as the backbone for even more non-fungible tokens” (NFTs) and smart contracts. Ether’s market cap now stands at around $575bn, compared with bitcoin’s $1.3trn.

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Ben Judge

Ben studied modern languages at London University's Queen Mary College. After dabbling unhappily in local government finance for a while, he went to work for The Scotsman newspaper in Edinburgh. The launch of the paper's website, scotsman.com, in the early years of the dotcom craze, saw Ben move online to manage the Business and Motors channels before becoming deputy editor with responsibility for all aspects of online production for The Scotsman, Scotland on Sunday and the Edinburgh Evening News websites, along with the papers' Edinburgh Festivals website.

Ben joined MoneyWeek as website editor in 2008, just as the Great Financial Crisis was brewing. He has written extensively for the website and magazine, with a particular emphasis on alternative finance and fintech, including blockchain and bitcoin. 

As an early adopter of bitcoin, Ben bought when the price was under $200, but went on to spend it all on foolish fripperies.