Investing.com - Ethereum prices rose on Wednesday, building on the previous session’s strong gains, but Bitcoin dipped in the wake of comments by a senior European Central Bank official, who warned against using it an official payment method.
Ethereum was up 12.45%, or $23.99, to $217.99 by 09.50 a.m. ET (01.50 p.m. GMT).
It rebounded around 40% in the previous two sessions after dropping to $130.26 on Sunday, its lowest level in more than a month.
Meanwhile, Bitcoin was at $2,294.0 on the U.S.-based GDAX exchange operated by Coinbase, dipping 0.41%, or $9.4.
Earlier in the day, ECB governing council member Ewald Nowotny warned against accepting Bitcoin as an official payment method, saying the digital currency lacked stability and was too vulnerable to speculation.
Bitcoin lacks the one thing that makes a good currency, namely stability," Nowotny said in an interview published on Wednesday. "Bitcoin is an object of speculation," he said.
He said the central bank would not prohibit bitcoins, but added that people should be aware of the risks.
Bitcoin prices remain well off all-time highs close to the $3,000-level touched last month. Despite recent losses, it is still up nearly 60% since the start of the year.
Traders remained cautious on Bitcoin amid ongoing uncertainty over a potential split in the digital coin.
Other prominent cryptocurrencies such as Litecoin, Ripple and Dash also traded higher.
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