Mubasher: Ethereum, the electronic coin on Friday registered its highest level after increasing more than 4.9% to reach $414.7, and its market capitalisation value jumped to $39.78 billion by 10:27 am GMT.

The British billionaire, Mike Novogratz forecasted that Ethereum will hit $500 by the end of 2017, as investors started using electronic coins strongly due to lack of trust with financial institutions, according to CNBC.