Ether, the digital token of the Ethereum blockchain, just reached a major milestone.
The price of the cryptocurrency surpassed $500 for the first time Monday evening, and surged as high as $577.81 on Tuesday, according to data by CoinDesk, whose price index tracks prices from cryptoexchanges Bitstamp, Coinbase and Bitfinex. This marked a renewed all-time high for ether.
By 8:30 a.m. ET, the digital currency was trading at a price of $561.92, and was up 8.69 percent for the session.