Ethereum scales record peak before futures launch

FILE PHOTO: Representation of the Ethereum virtual currency standing on the PC motherboard is seen in this illustration picture, February 3, 2018. REUTERS/Dado Ruvic/Illustration

TOKYO (Reuters) - Ethereum hit an all-time high on Thursday as investors bought the cryptocurrency before the launch of ethereum futures on the Chicago Mercantile Exchange next week.

Ethereum rose to record high of $1,698.56. Bitcoin, the most popular crypto currency, also rose 1.2% to $38,120.

Cryptocurrencies are gaining traction with more mainstream investors. The euphoria boosted the total market value of all cryptocurrencies above $1 trillion for the first time earlier in January.

Reporting by Stanley White; Editing by Shri Navaratnam