Cryptocurrency Ether Has Been Worth More than $ 4000 This Week for the First Time Since December. The Price of the Second-Largest Digital Currency is Being Fueled by Growing Demand from Companies That Are Stocking Up On The Token.
On Sunday, Ether Traded around $ 4,200. This makes ether almost three times as valuable ash in April.
Bitcoin was trading at $ 118,000. That price is Therefore Slightly Removed From the Record of Approximately $ 123,000, which was recorded last month.
Ether’s Rise Coincides with a Broader Shift Within the Crypto World, With Institutional Investors and Developers Looking Beyond Bitcoin. “Bitcoin’s Dominance is Starting to Decline Significantly AS Banks, Fintechs and Large Companies Embrace Stablecoins,” Says an expert from Market Researcher Vaneck to Press Agency ANP .
The US Congress Recently Approved The First Federal Legisletation Regulating SO-Called Stablecoins, Or Digital Currencies Linked to a Fixed Value. This paved the way for wider use of crypto technology in the daily financial world.
Many Stablecoins Run on Technology from the Ethereum Network. Ether is the cryptocurrency and unit of account that is used on that network to handle transactions. Ether is not yet at a record in Terms of Value. That dates from 2021 and amounts to almost $ 4,900.