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Ether Reaches Two-Month High as Software Update Test Conducted

  • Token getting a boost as major Ethereum transformation nears
  • Test of planned move to more efficient system seems successful
Bloomberg business news
Ethereum Developers Set September Target for Software Update
Updated on

Ether hit a more than two-month high as the planned software upgrade to the Ethereum blockchain underwent a major test, potentially paving the way for one of the most significant changes in the cryptocurrency sector.

The token rose as much as 4.1% on Thursday and was trading at around $1,900 as of 7:49 a.m. in New York -- more than double a June low below $900 and far outpacing the rebound in Bitcoin over the period. Ether had surged to a record of more than $4,800 in November.