LONDON : Cryptocurrency Ethereum extended gains to rise more than 8% on Monday to $2,587 but remained 40% below a record high of above $4,300 hit earlier this month. Larger rival Bitcoin also gained in its wake with the world's biggest and best-known cryptocurrency rising 3.7% to $36,977 in quiet trading with London and US markets shut for holidays. 25 confirmed the trend with net short positions nearly doubling from the previous week, which was the smallest net short since late March last year. In the latest salvo against the cryptocurrency, Bank of Japan Governor Haruhiko Kuroda said much of the trading was speculative. It is currently trading at levels last seen in February and at roughly half its peak value of $65,000 seen in April.

Source: Mint May 31, 2021 12:00 UTC