Mon, 10 May 2021 | Written By: Alec Malloy
Alec Malloy is a content writer with over 7 years’ experience spanning a range of commercial sectors.
Cryptocurrency update: ETH soars while Dogecoin spins
Ether starts the week strongly, breaching all-time highs, while Dogecoin chases its tail.
Cryptocurrency update
Ether soars to all-time high
It makes for refreshing reading when a cryptocurrency that isn’t Bitcoin makes its own stellar gains.
This week, it’s
Ether (ETH), the digital token for the Ethereum blockchain. The token has reached a new all-time high, breaking above $4,000.
While Bitcoin steals the headlines, ETH has actually made more substantial gains across 2021 so far. As of May 10th, 2021, Ether’s year-to-date return was a cool 435% against
MONEYWEB
app instead?
The pound touched a 10-week high.
By Andreea Papuc, Bloomberg
10 May 2021 09:52
Image: Soichiro Koriyama/Bloomberg
US equity futures climbed and Asian stocks were mixed Monday following another record high for the S&P 500 Index as weak jobs data reinforced the case for stimulus. Gasoline and crude oil rose after a cyberattack forced the closure of a key US pipeline.
The materials sector led gains in an Asia-Pacific share index as commodities advanced. Australian stocks ended at an all-time high, while Hong Kong and China dropped. Gasoline jumped as much as 4.2% to a three-year high before paring the increase, with US operator Colonial Pipeline providing no timeline for a restart following a shutdown late Friday due to a ransomware attack.
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More than US$1.3 billion worth of art sold this week in NYC
Robert McWhirter s Top Picks: May 13, 2021
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Fed s Clarida plays down significance of rising inflation
Stocks slide for second day; treasury yields rise
The options market may be fueling the turbulence in tech shares
Bruce Campbell s Top Picks: May 11, 2021
Upstart crypto exchange FTX surges toward top of trading ranks
Rout lands on Nasdaq where shorts are massing, bulls getting out
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Saturday night brought something really rather extraordinary as the worlds of finance and entertainment came together at least for a while. Here is The Hill on Saturday Night Live which was on NBC in the US.
Musk appeared on the show’s “Weekend Update” segment as fictitious financial expert Lloyd Ostertag. When asked about Dogecoin by co-host Colin Jost, Musk explained it is “the future of currency.”
“It’s an unstoppable financial vehicle that’s going to take over the world,” he said.
“I get that, but what is it, man?” co-host Michael Che asked.
“It’s a cryptocurrency you can trade for conventional money,” Musk responded.