Ethereum breaches $3,000 to grow four times its value in 2021
Ethereum’s digital token ether breached the $3,000 mark on Monday, posting its highest record ever and even outshining bitcoin. This as investors bet on ether to have wider use in a decentralized future financial system.
Ether, the token transacted on the ethereum blockchain, rose 3% on the Bitstamp exchange to $3,144.81 in morning deals in London. It is up 325% for the year so far, easily outpacing a 95% rise in the more popular bitcoin.
Andreessen Horowitz, a huge venture capital firm, showed interest in cryptocurrency. According to a report from the Financial Times on Friday, it is looking to raise a new fund of as much as $1 billion to invest in cryptocurrencies crypto start-ups.
Meanwhile, the world’s biggest cryptocurrency, Bitcoin, settled at the $50,000 mark last week and flirted near $58,700 on Monday, gaining about 4% but falling below its record high at $64,895.22.