Despite the high fees, institutional investors are still interested in Ethereum based on future growth prospects.
Ethereum (ETH) continues its mega rally taking its year-to-gains at above 460%. As ETH Mega bull run continues, the demand for Ether derivative products increases.
The attainment of the new ATH by Ethereum has duly reawakened the prospects of the digital currency to take Bitcoin over in terms of market capitalization in the future.
The report by the Federal Reserve Bank of St Louis recognized Ethereum as the leader in the smart contract aspect with the majority of the DeFi protocols built on it.
The digital payments company said that its Ethereum investment is part of the company’s long-term strategy to gain exposure to digital assets. The company is willing to expose 5% of its cash reserve and investment portfolio to crypto.
The cryptocurrency indices use Lukka, a crypto data provider, as the data source for digital asset pricing and reference data.
The spike in Ethereum price rejuvenated the cryptocurrency bulls after the entire market consolidated for around two weeks.
ETH price rally has helped its market dominance surge past 16% making it formidable crypto in the market. Analysts expect ETH price to surge to $10K by the end of 2021.
Ethereum has toppled several financial payment companies in its price surge to $3000 and above. The Ethereum blockchain network is the preferred choice of the European Investment Bank (EIB) for settling 100 million euros worth of digital bonds.
By the time of writing, ETH has set a new ATH at over $2,797 with a market cap of over $320 billion.
O’Leary added that Ethereum will always be used as a tracking system. Meanwhile, ETH has established a new ATH over $2,700.
Prior to Wednesday’s Ethereum (ETH) price pump, several underlying factors had accumulated in favor of the asset.
Dispersion Holdings is an investment company created by the co-founders of Argo Blockchain, which specializes in DeFi, and is about to launch its IPO on the Aquis Stock Exchange.
Ethereum has hit a new ATH. Ethereum price is now up over 1400% in the past year.
One of the funds launched by Huobi Asset Management is a private equity fund that will invest solely in cryptocurrency mining operations.