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Ethereum has hit an all-time today at $2713 after the reports that European Investment Bank (EIB) plans of coming up with a digital bond sale on the Ethereum blockchain network. It is currently trading at $2,618 and has shot up by 12% in the past seven days.
Ethereum is the second-most popular currency in terms of market cap and has given a return of 257% since January this year. The digital token functions as a token and can run any application in a decentralised ledger.
The cryptocurrency has risen following a report in Bloomberg on Tuesday stating that the EIB is considering to issue a 2-year 100 million euro digital bond, with the sale to be led by Goldman Sachs, Banco Santander, and Societe Generale, according to analysts.
Experts say with a rise in NFTs, there has been seen an increase in demand for ether as it is used to buy virtual art or land. Through NFT every digital collectable is given a unique code making it one-of-a-kind work of art. In simple words, you can say that NFTs is a digital certificate, which establishes absolute ownership of digital artwork. It is a type of crypto asset in which an asset is made unique by giving them a unique code. This unique code is like the ownership certificate of the digital asset.
The website of Ethereum says “Ethereum is a technology that’s home to digital money, global payments, and applications. The community has built a booming digital economy, bold new ways for creators to earn online, and so much more. It’s open to everyone, wherever you are in the world – all you need is the internet.”
What Makes Ethereum Unique? The website of Coinmarketcap.com states, “Ethereum has pioneered the concept of a blockchain smart contract platform. Smart contracts are computer programs that automatically execute the actions necessary to fulfil an agreement between several parties on the internet. They were designed to reduce the need for trusted intermediates between contractors, thus reducing transaction costs while also increasing transaction reliability.”