Ethereum breaks past $3,000

FILE PHOTO: A representation of virtual currency Ethereum are seen in front of a stock graph in this illustration taken February 19, 2021. REUTERS/Dado Ruvic/Illustration

SINGAPORE (Reuters) – Cryptocurrency ether hit a record high of $3,017 on Monday, extending last week’s rally in the wake of a report that the European Investment Bank (EIB) could launch a digital bond sale on the ethereum blockchain network.

Ether rose 2% on the Bitstamp exchange to hit the milestone early in Asia trade. It is up more than 300% for the year so far, outpacing a 95% rise in the more popular bitcoin.

Ether is the digital currency or token that facilitates transactions on the ethereum blockchain and it is the second-largest cryptocurrency by market cap behind bitcoin.

Bloomberg reported on Tuesday, citing unnamed sources, that the EIB plans to issue a two-year 100-million euro digital bond.

Bitcoin hovered around $58,000 on Monday.

Source: Read Full Article