Ethereum blasts to new high, cracks $1,000 for the first time

- Ethereum is currently the third-largest cryptocurrency by market value, after being dethroned by another altcoin, Ripple's XRP, last week.
- The Ethereum Foundation is launching two new subsidy programs to boost research into the scalability and development of the distributed ledger.

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The digital currency broke the $1,000 mark for the first time, edging up to an all-time high of $1,045.08 at about 10:05 a.m. ET, according to data from industry website CoinDesk.

Ethereum creator Vitalik Buterin said in a blog post Tuesday that the non-profit foundation that oversees the blockchain network was launching two new subsidy programs to support research into the scalability and development of the distributed ledger.

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