At 11:53 GMT (5:23pm IST), it was trading up 7.4 percent at
$2,565.69.
Larger rival Bitcoin also gained in its wake with the
world's biggest and best-known cryptocurrency rising 3.7 percent to $36,977 in
quiet trading with London and US markets shut for holidays.
Bitcoin price has been less volatile in recent days but is
down by more than 35 percent this month, weighed by growing regulatory
pressures on the sector.
Latest positioning data for the week ended May 25 confirmed
the trend with net short positions nearly doubling from the previous week,
which was the smallest net short since late March last year.
In the latest salvo against the cryptocurrency, Bank of
Japan Governor Haruhiko Kuroda said much of the trading was speculative. His
remarks followed China's recent efforts to crack down on mining activities.
It is currently trading at levels last seen in February and at roughly half its peak value of $65,000 seen in April.
© Reuters