By Eurasia Business News, October 6, 2021
Ethereum, the second largest cryptocurrency after Bitcoin, hit $ 3,600 on October 6, the first time since September 17. The recent demand for non-fungible tokens (NFTs) fuels this growth.
On October 6, Ethereum was worth $3,566.56 at 04:30 pm Paris time.
The last wave of growth for Ethereum started on September 29 from $ 2,806. Ethereum seems to be moving towards an all-time high of $ 4,379, which was set on May 12.
Analysts at the second largest US bank, Bank of America, are optimistic about the future of digital assets and blockchain. They are especially interested in the development of Ethereum, DeFi, dApps and NFT.
Bank of America launched on October 4 its digital asset research with the publication of a report entitled “Digital Assets Primer: Only the first inning,” led by Alkesh Shah, head of Global Cryptocurrency and Digital Asset Strategy. The report cites blockchain as “the most exciting new market” to emerge in recent years.
What is Ethereum ?
Ethereum is a blockchain protocol designed by Vitalik Buterin, a Russian-Canadian developer which entered in 2017 the top 10 of the rating “40 most influential young people under 40” according to Fortune magazine. This rise of the Ethereum made its creator Vitalik Buterin to become a billionaire at the age of 27.
Blockchain is a technology that allows information to be stored and transmitted transparently, securely and without a central control body.
Launched in 2015, Ethereum, the second blockchain in terms of valuation after Bitcoin, allows the development of decentralized applications, called Dapps. It is different from Bitcoin, which is only focused on peer-to-peer payment. On exchange platforms, Ethereum is designated by the acronym “ETH”. Ether should not be confused with Ether Classic (ETC), which is a derivative of the original created following a hard fork, in 2016.
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