The second-largest cryptocurrency Ethereum (popularly "ether") has reached a record value for a virtual coin. However, it is still far from bitcoin, but the growth over the last year is impressive.
Last Sunday, the price of "ether" exceeded $3000. This is despite the fact that a year ago it cost just over $207 per token. Now the capitalization of the cryptocurrency is estimated at $350 billion. Although the constant increase in the cost of Ethereum was associated with the expected update of the algorithm for calculating transaction fees and the launch of Ether 2.0, the decision of the European Investment Bank affected the value of the token. Last week, the agency issued bonds worth $120 million using the Ethereum blockchain.
Analysts emphasize that despite the value of bitcoin, which is much higher than Ethereum, the first still remains a speculative cryptocurrency mainly operating within the exchanges. On the contrary, Ethereum is recognized as the most widely used digital currency in the world of crypto trading.
Globally, the growth of the crypto market, which has been observed since the end of last year, experts attribute to the introduction of new technologies, as well as the success of the IPO Coin Base.