The world’s second largest cryptocurrency Ethereum (ETH) broke a new record by breaking the $3,000 level today. The main reason for this rally in ETH is the news about the European Investment Bank. ETH is close to $ 3050.
Ethereum breaks $3,000 for the first time
The world’s second largest cryptocurrency by market value Ethereum broke a new record, breaking above the $3,000 level today during Asian trading. At the time of this writing, ETH-USD is trading at $3,049 (TSI 06.20) on the Bitstamp exchange.
Related – What is Ethereum (ETH), where, how to buy and its future how?
So, what are the reasons behind Ethereum’s rally that started last week and continues this week? First of all, the news about the European Investment Bank (EIB) comes. According to this news, the EIB may initiate digital bond sales on the Ethereum blockchain network. On this news, the price of ETH rose more than 3 percent, breaking a new record.
With this, Ethereum’s rise since the beginning of the year exceeded 300 percent. An increase in value many times over the 95 percent rise of Bitcoin from the beginning of the year to the present day.
ETH is a crypto currency that performs transactions on the Ethereum blockchain network. It is also the world’s largest cryptocurrency by market size after Bitcoin.
By the way, the news about the European Investment Bank, which caused the rise in ETH, came from Bloomberg. According to the news, citing an unnamed source, the EIB will issue two-year digital bonds worth 100 million Euros.
On the other hand, Bitcoin is trading around $58,000 in an environment where ETH exceeds $3,000.