Ethereum Hits All-Time High, Surpassing $3,300
Expert: "It Will Reach $5,000"
[Asia Economy Reporter Yujin Cho] Following Bitcoin, the second-largest cryptocurrency Ethereum's price surpassed $3,300 at one point, setting a new all-time high.
According to cryptocurrency site CoinDesk, as of 2:40 PM on the 3rd (Pacific Time), Ethereum's price recorded $3,293.37, up 10.02% compared to 24 hours earlier. Its market capitalization grew to $380.44 billion.
At around 11:59 AM that day, the price surged to an all-time high of $3,339.52 before slightly declining.
The rise was driven by news that the European Investment Bank (EIU) issued digital bonds worth 100 million euros (approximately 134.3 billion KRW) based on Ethereum's blockchain network.
CNN analyzed that Ethereum's price has risen 325% this year, increasing more than fourfold.
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Nigel Green, founder and CEO of financial consulting firm Devere Group, predicted, "Ethereum's price will reach $5,000 within a week, fueled by explosive market demand."
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