The week begins with new all-time highs for the Ethereum price. The second cryptocurrency with the highest market capitalization, it has continuously exceeded its price in the last hours.
The cryptocurrency broke the psychological barrier of $ 4000 dollars, holding fifteen days of maximum prices. The historical value reached on this day is $ 4166.6 dollars.
Ethereum, a technology used for the development and implementation of applications and smart contracts, make the cryptoactive ether, a digital asset, much more than a safeguard asset.
That is, ethereum is the blockchain network in which decentralized applications are integrated. While ether is the cryptocurrency that allows and drives monetary transactions with this type of technology.
For this reason, in relation to BTC, this cryptocurrency is usually considered to a lesser extent as a safeguard asset.
The latest ETH price increase is due to three reasons. In the first place, it is because on Friday the asset management company VanEck, presented with the SEC, a proposal for an exchange-traded fund (ETF) of Ethereum. In April, on the Ontario Stock Exchange, Canada, 4 ETFs of this asset were authorized.
Second, due to upcoming changes in the software, which could reduce its availability in the market. This upcoming change, estimated for July, implies a technical change in the software and this would reduce its offer. In turn, they are working on the Ethereum 2.0 update, which seeks to optimize effectiveness in speed and efficiency.
However, and as a third reason, the sustained increase in prices is also due to the fact that cryptocurrencies, both ETH and BTC, have obtained some support in the institutional sphere due to the approval in large entities and personalities such as Mastercard, Tesla, PayPal, Visa , among others.
Volatile scenario. ETH is currently worth $ 4,143. It is in buys. It is not recommended to enter these levels.