Ether is rallying in the wake of Visa's decision to facilitate crypto-based settlements via the Ethereum blockchain.
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Ether (ETH, +4.85%) jumped 5% Friday to a new all-time high as the second-biggest cryptocurrency extended its winning streak to five days.
The cryptocurrency traded as high as $2,097 around 20:41 UTC, according to CoinDesk 20 data, surpassing the previous high of .
The price has rallied 24% this week in the wake of Visa's decision to facilitate crypto-based settlements on the Ethereum blockchain network.
Ether, the native cryptocurrency for Ethereum, has nearly tripled in price this year.
In an announcement on Monday, the payments giant said it is working on a program to settle transactions in stablecoin USD Coin (USDC (-0.05%)) over Ethereum with its partner Crypto.com.
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."