Ethereum price: ETH 'inches towards new highs' as crypto steals spotlight from Bitcoin

"The confidence sweeping across the ecosystem shows little sign of abating."

In stark contrast to Etherum's gains, Bitcoin's performance this week has been somewhat lacklustre.

At 5.18pm BST, Coindesk data shows BTC exchanging hands for £39,480.47 ($54,659.75) per token - down nearly three percent on the last 24 hours.

The crypto's overall market cap is still evaluated at an incredible £737.80billion ($1.02trillion) and annual returns are up 87 percent.

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