Ethereum Record-High Surges – What are the Possible Causes?

eToro, a website for trading cryptocurrencies, asserts that Ethereum is the only cryptocurrency of its type. Ethereum was introduced as an open-source software platform that enables developers to create coins and other digital applications. Ethereum refers to a decentralized, distributed electronic ledger that records all transactions. Ledgers are the backbone of cryptographic monetary transactions. Ether, a token generated by the Ethereum blockchain, is the Ethereum cryptocurrency. Using a blockchain makes it almost impossible to falsify anything stored on it. Currently, these tokens are “mined” by computers solving mathematical puzzles, similar to how Bitcoin is mined. In the last year, both retail and institutional investors have embraced Ethereum. Why should an investor purchase Ethereum? eToro argues that trading or exchanging Ethereum for other cryptocurrencies is straightforward. According to the broker, an increasing number of online and offline firms will take bitcoin. In comparison to Bitcoin, there is significantly lower transaction time, and dApps (decentralized applications) make it possible for developers to build new online services. In March 2021, Christie’s became the first auction house of its kind to take Ether as payment for a Beeple work of art. The book ‘Everydays: The First 5000 Days’ was sold for $69.3 million. The European Investment Bank (EIB) announced a €100 million two-year digital bond on the Ethe...