The world’s 2nd-largest cryptocurrency, Ether, has reached a record-breaking high, further pointing to wider blockchain adoption worldwide. The token went to a high of $4,670.81 on Wednesday.
The value of Ether has risen by 10% this week alone. This rise can be attributed to the record-breaking high of $67,016.5, achieved by the largest cryptocurrency, Bitcoin, as on October 20th. Ever since this all-time rise was witnessed in the crypto world, other tokens have also garnered momentum.
BTC is up by 117 percent this year, and Ether has risen six-fold. Ever since the world of crypto witnessed a turn of events towards September-end, BTC as well as other popular tokens have also picked up pace. The MD as well as the global head of OSL, a digital asset platform, Ryan Rabaglia, says that Ethereum will stand to be a clear winner in the prolonged potential market sentiment uplift. He also predicts that Ethereum will stand to hold a vital role in the NFT as well as the metaverse ecosystem build-out.
Since October, there has been plenty of positive conversations surrounding cryptocurrencies. This includes an influx of news articles that focus on adoption of crypto by banks, the growth of the non-fungible tokens on various virtual gaming platforms, the introduction of Bitcoin futures-based U.S. ETFs, and more. Along with the same, there has also been a shared need among major investors to bring about diversification in an otherwise interest rate environment that is quite uncertain. All of this has promoted many blockchain tokens, especially Bitcoin as well as Ether, to higher values.
It is predicted by several experts that the value and mass adoption of crypto will only continue to rise in the months to come.