Ether, a cryptocurrency which has shown significant promise for its strong technology and compelling use cases, recently reached a fresh, all-time high.
The digital currency rose to as much as $1,430.81 at 19:09 UTC, according to CoinMarketCap.
At this point, the cryptocurrency had climbed roughly 15% in the last 24 hours, additional CoinMarketCap figures show.
The price of Ether had pulled back slightly at the time of report, trading at $1,421.19.
Several analysts spoke to the potential offered by Ether and its platform, Ethereum.
"Ethereum is currently the most promising blockchain," said Mati Greenspan, senior market analyst for social trading platform eToro, emphasizing that it has "by far the most projects being developed on it."
The Ethereum platform has "3x more transactions than bitcoin," noted Marius Rupsys, a figure that shows its popularity.
The use case for Ether, which powers the Ethereum platform, is "simply far more compelling that the use case for BTC," said Tim Enneking, managing director of Crypto Asset Management.
