Nowadays, in the era of digitalization, the popularity of cryptocurrency is increasing rapidly. Their prices are constantly increasing due to their support to other big investors including Elon Musk. On Wednesday, the price of the new cryptocurrency Ether surpassed the dollar. On 12 May 2021, it touched a new high of $ 4,649.03.
This year, ether cryptocurrency has gained more than 500 percent against the dollar. This led to strong profits for those investing in ether cryptocurrency. It is known that ether is the second most popular cryptocurrency in terms of capitalization (market cap) after the most popular cryptocurrency bitcoin. The reason for such a surge in the value of ether is the increased use of Ethereum blockchain by cryptocurrency platforms. This helps in the landing of crypto outside the scope of banking institutions.
Investing in a cryptocurrency will be easier
Analysts at US bank JP Morgan say that open interest in CME Ethereum Futures has risen to $ 54 million in three months. There was a similar increase in CME Bitcoin futures during the year 2017. The popularity of cryptocurrency is increasing among institutional investors. This will also increase people’s interest in Ethereum futures. This will make investing in cryptocurrency easier in the coming days.
These cryptocurrencies dominated
These days, all cryptocurrencies have captured the market. The interest of investors is increasing in them. From Bitcoin to Dogecoin, SHIBA, there is a steady increase in the value of all cryptocurrencies. Bitcoin has gained about 95 percent this year. Tesla has started accepting bitcoin for payment. In such a situation, investors are increasingly attracted to it.