On May 5, 2020, an Ether token was worth $ 186. A year later, on Sunday night, the cryptocurrency hit $ 4,000 for the first time, an increase of over 2,100%. Although Dogecoin attracts most of the global attention to cryptocurrency, May has already been huge for Ethereum, as Sunday’s milestone comes barely a week since the cryptocurrency hit $ 3,000 for the first time.
Ether is a cryptocurrency minted on the Ethereum blockhain. Bitcoin, the most famous currency, is built on its own separate blockchain. But while Bitcoin is more like gold, mainly used as a speculative asset, Ether is used by cryptocurrency traders to buy and sell. ““, like Dogecoin. NFTs, , are notably bought and sold using Ether, not Bitcoin.
The Ethereum blockchain was founded in 2013 by Canadian-Russian programmer Vitalik Buterin when he was just 19 years old. Buterin owns over 333,000 Ether tokens – it’s possible to see other traders’ portfolios if you have their wallet address – which, at the current price, values his holdings at over $ 1.36 billion.
The cryptocurrency now has a market cap of over $ 460 billion. It has grown rapidly over the past year, mostly in anticipation of its relaunch as Ether 2.0, but this latest rally is linked to last week’s announcement that the European Investment Bank has issued $ 120 million (€ 100 million) in bonds using the Ethereum blockchain. DogeCoin also hitthis week after its listing on eToro – before dropping to around 50 cents .
Coins like Bitcoin and Ethereum have increased dramatically since late 2020 for many reasons, includingand the success of the Coin Base IPO. The price of Ethereum has also increased in anticipation of Ether 2.0, which will change the fundamental way in which tokens are minted. Without getting lost in the technical mumbo jumbo – you can read here if you’re interested in the difference between proof of work and proof of stake – ether 2.0 promises to be more efficient, which will be good for traders and the market. planet.