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Ether extended its rally to reach a new record on Saturday, putting the second-largest cryptocurrency on track for a six-day winning streak.
The Ethereum blockchain's native cryptocurrency traded as high as $2,152 at about 12:45 am WAT, breaking its previous record of $2,102 reached late yesterday, according to data from coinmarketcap.com.
Ether's price has soared on the tide of Visa's decision to facilitate crypto-based settlements on the Ethereum network. The token is now up over 185 percent year-to-date, outperforming bitcoin's 103 percent returns.
Billionaire investor Mark Cuban, who hosts the CNBC show “Shark Tank” and owns the Dallas Mavericks professional basketball team, said on a recent podcast episode that he’s bullish on cryptocurrencies including bitcoin, but that Ethereum is “the closest we have to a true currency.”
According to data tweeted by options analytics platform Genesis Volatility, traders are aggressively buying the $25,000 call option expiring on Dec. 31, 2021, listed on Deribit, the world’s largest crypto options exchange by trading volumes and open interest.