Cryptocurrency

Ethereum Reaches New All-time High of $2700, Bitcoin Ranges

Ethereum Reaches New All-time High of $2700, Bitcoin Ranges

Ethereum Reaches New All-time High of $2700, Bitcoin Ranges

  • The world’s second-largest cryptocurrency, Ethereum has hit a new peak only a few days after reaching $2,500

  • Following reports that European Investment Bank (EIB) is set to launch a sale on the blockchain, Ether reached a new high of $2,756

  • -Flagship cryptocurrency, Bitcoin on the other hand has failed to go past $55,000

The world’s second-largest cryptocurrency, Ethereum continues to be on the rise as it shatters new all-time highs.

Ether which recently rose past the $2500 to set a new record has gone higher to reach $2,756 within a few days.

Ethereum

The rise in the value of the cryptocurrency has been driven by news that European Investment Bank (EIB) will launch a “digital bond” on the blockchain.

EIB plans to issue a 2-year digital bond sale on the blockchain worth 100 million Euros.

A decline in the supply of Ether and Ethereum being used to buy virtual art are some of the other factors that have driven its value.

Etheruem

Although Ether remains far behind bitcoin, the flagship crypto will be hoping to recover soon.

Less than two weeks after dropping as low as $46,000, Bitcoin has recovered to $55,000.

The flagship cryptocurrency is however finding it difficult to go beyond that.

Read also: EFCC Warns Nigerians Against Bitcoin and Forex Trading Investment

BTC remains some way off its all-time of $63,000 with a current market cap of $1 trillion.

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