No 2. cryptocurrency ethereum soars to record high as Bitcoin rally continues

Ether, the world's second-largest digital currency, hit a record high on Thursday, driven up by the continuing rally in bitcoin.The price of ether hit $1,918.52 during morning trade in Asia but has since pared some gains, according to CoinDesk data. It was trading at $1,883.58 at 12.14 p.m. Singapore time, up around 8%.Ether has seen a year-to-date price rise of 160% compared to bitcoin's 78% surge in the same period.But it is the rally in bitcoin — which surpassed $52,000 for the first time on Wednesday — that's helping to push up ether as well."The ether slingshot is in motion, with the number 2 coin looking cheap and posed to surge relative to bitcoin's $52k level," Jehan Chu, co-founderof cryptocurrency focused venture capital and trading firm Kenetic Capital, told CNBC.Ether is the digital coin that powers the ethereum network. Developers can build apps upon ethereum's network.In that way, ethereum works…

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