Ethereum also hit a record high on Tuesday, expanding year-to-date profits of the world’s second-largest cryptocurrency in the ongoing expectation that it will be a major payment method and value preservation like Bitcoin. did.
Ethereum is up 5.85% to $ 3,348.06, a new record, according to CoinDesk. Extension of rally So far this year, prices have risen by about 360%. Bitcoin was down 3.89% to $ 56,220.It Record record of over $ 64,000 last month.
Interest in cryptocurrencies Soared in the last year, Bitcoin is continuously pushing new record highs.Several factors including Increasing interest of institutional investors Major companies such as Tesla (((TSLA)- Get the report Buy digital coins and PayPal (((PYPL)- Get the report So accepting payments is credited with that rise.
Unlike Bitcoin, Ethereum and its solution for issuing payments, Digital Token (Ethereum), have recently been on the same wave. In the crypto world, the terms Ethereum and Ether are used interchangeably.
Ethereum, which is affiliated with the Ethereum blockchain, a digital ledger popular for selling financial services and so-called non-fungible tokens (NFTs) and other “cryptographic collections”, has skyrocketed by about 1,500% in the last 12 months. doing.
Climbing Stir the forecast of additional profits It’s similar to Bitcoin’s spike, even if some technical indicators flash a warning that the rally may be overextended.
“The market is aware of how fundamentally undervalued ether is being given to all development activities on the network,” said Vijay Ayyar, Head of Cryptographic Exchange Reno’s Asia Pacific region. Told Bloomberg on Tuesday. “You might think that ether has risen significantly, but it’s still a long way to go when compared to Bitcoin.”
Ayyar said ether “needs to be fixed”, but with cryptocurrencies, its long-term outlook is “very sound”. Reach $ 5,000 to $ 10,000 by early next year..
Ethereum Leaps to Another Record High, Surging Past $3,400 Source link Ethereum Leaps to Another Record High, Surging Past $3,400