But it has also mirrored bitcoin to rise slightly in price recently.

Ethereum has risen by 2.77 percent in the 24 hours.

This is a pretty typical pattern as changes in value to the market leader, bitcoin, are often mirrored in other cryptocurrencies.

Ethereum is currently trading at £2,201.27 per ETH which is 30.94 percent below its all-time high of £3,187.69.