The world's second largest cryptocurrency sets a new record price

The world's second largest cryptocurrency sets a new record price

Ether, the world's second-largest cryptocurrency by market capitalization, has set a new price record. The cryptocurrency, which is used by the Ethereum blockchain, is second only to bitcoin in terms of overall value. The ether price reached $1.439,33 on January 18, surpassing its previous high of $1.432,88 recorded just over three years ago. While there have been some hiccups along the way, the overall trend is positive for Ether. Since it first went on public sale in 2015, the digital asset has seen its value rise by more than 1000%. While bitcoin is by far the most prominent cryptocurrency, Ether or Ethereum can claim a solid spot for second place. In fact, Ether has won over its most famous rival of late, increasing in value by 92% this year, compared to 27% for Bitcoin. However, Bitcoin remains the most valuable and reached its own all-time high of €41,900 in early January.

Brilliant Future

Ethereum has gained a lot of fans for the way it enables decentralized applications, ether being the currency that pays for the resources used by the Ethereum network. In particular, Ethereum was popularized by decentralized finance (DeFi) applications, although these digital solutions may use their own tokens instead of ether. In December, the Ethereum network had some big news to share with its subscribers, announcing that the next generation of the Ethereum blockchain, Ethereum 2.0, had gone live. Among the new improvements included in Ethereum 2.0, the blockchain network will be able to significantly increase the number of transactions it can process per second. With the progress of the Ethereum 2.0 upgrade and a new record price for Ether, things are looking good for the Ethereum network as we head into 2021. Via CoinDesk