Ethereum (Ether) is the digital token of the Ethereum blockchain and the second-largest cryptocurrency in the world second to Bitcoin. The digital cryptocurrency has hit a new record. Over the last 24 hours, Ether has increased in value to about 7% making its market value rise to about $483.4 billion.
In the last month, the value of Bitcoin fell to about 2% while Ether rose in value to about 40%. Despite this rise, the value of Ether is still not up to half the value of Bitcoin, but the price is impressive compared to other coins. Ether still maintains its reputation as the second-largest cryptocurrency and with this sudden rise, it looks like it will attract the attention of new investors as the crypto market is a game of opportunities.
Reports have it that some cooperate investors like Tesla, have already adopted Bitcoin services and potential investors like Citibank are considering doing the same. With the rise in the value of Ether, it could also attract high-profile investors hopefully.
Reports have it that Ethereum is undergoing an upgrade that will promote the speed of transactions, this is also going to be an added advantage if the value keeps increasing. But the volatility of the crypto market is also a factor, so we keep our fingers crossed.
