Ethereum price shoots past $3,000 for the first time

Ethereum price shoots past $3,000 for the first time
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Yuriko Nakao / Gaiety

Bitcoin and Dogcoin Both gave new all-time high hits in April, but May seems to be the month of Ethereum. The cryptocurrency, the second largest and most widely used in the world, hit $ 3,000 for the first time on Sunday. As is customary with headline-grabbing cryptocurrencies, this is a meteoric rise for Ethereum compared to the previous year. Is this the price of this day a year ago? Over $ 207.

Cryptocurrency is now marketed for less than $ 350 billion. It has been growing faster than the previous year, mostly in anticipation of its relaunch as Ether 2.0, but this latest rally is tied to news last week that the European Investment Bank had raised $ $ in bonds using the Ethereum blockchain. 120 million (€ 100 million).

While bitcoin is the most well-known cryptocurrency, priced at $ 58,000 per token and with a market cap of over a trillion dollars, it is almost exclusively used as a speculative asset that people can buy or sell. Ethereum, a cryptocurrency built on blockchain, is the most widely used digital currency in crypto trading. Undertaker is Bitcoin and Ethereum thousands of “altcoins”, Similar to Penistock, which is mostly traded using ether. NXT, Token that proves ownership of a digital product, Specifically bought and sold using ether, not bitcoin.

Coins such as Bitcoin and Ethereum have increased significantly since the end of 2020 for a number of reasons, including Increased embrace of big technology cryptocurrency And the IPO success of Coin Base. Ethereum prices have also risen in anticipation of Ether 2.0, which will change the original way of token mining. Without getting lost in the technical mumbo jumbo – you can read here if you are interested in the difference between Proof of Work and Proof of Steak – 2.0 promises to be more efficient, which would be good for merchants and the planet.

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