Ethereum breaks past $3000 to quadruple in value in 2021 – Reuters
- Date: 03-May-2021
- Source: Reuters
- Sector:Financial Markets
- Country:Middle East
Ethereum breaks past $3000 to quadruple in value in 2021 – Reuters
Cryptocurrency ether broke past $3,000 on Monday to set a new record high in a dazzling rally that has outshone the bigger bitcoin, as investors bet that ether will be of ever greater use in a decentralised future financial system.
Ether , the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,051.99 by lunchtime in Asia. It is up more than 300% for the year so far, easily outpacing a 95% rise in the more popular bitcoin.
In part, the big rally is a catch-up to late 2020 gains in bitcoin, said James Quinn, managing director at Q9 Capital, a Hong Kong cryptocurrency private wealth manager.