Published on 04/02/2021 at 5:50 pm
Updated on 04/02/2021 at 6:29 pm
The rise of Ethereum (Ether or ETH), the most important cryptomony after Bitcoin, continues, partly due to the growing interest of institutional investors. More and more players are considering cryptomoney as an alternative to gold.
The Ethereum (ETH or Ether) is on a roll. The record-breaking Ethereum (ETH or Ether) has jumped 2.7% to 1,334.98 euros, according to the Bitpanda platform. Following the example of Bitcoin (BTC), Ethereum and other cryptomoney products have been on the rise for several months. One record follows another for ETH, partly thanks to institutional investors who now consider Bitcoin as an important asset, like gold, to diversify their portfolio, » said Giulia Mazzolini, Bitpanda’s French director.
According to her, Ethereum’s popularity in the financial sector is also due to the fact that it allows bypassing traditional intermediaries such as banks. After a period of ups and downs, ETH has reached an all-time high of more than $1,600 and has made up 25% of its gap with Bitcoin since the beginning of the year. « The rise of the most important cryptomone market after Bitcoin seems to be determined by its own springs and investors are starting to realize the full potential of Ethereum, which is contributing to the excitement of the market, » says Giulia Mazzolini.
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