The price of ether (ETH), the cryptocurrency from the Ethereum blockchain, registered a new all-time high (ATH) of over US$ 3,000.00 on Sunday, May 2. On Monday, the cryptocurrency continued to rise, trading at US$ 3.288.00 while finalizing this article. It is the first time in history that an altcoin has surpassed the US$ 3,000 mark.
“Ethereum is going through a process where its demand has increased, and there has been optimism from operators about the platform, much based on DeFi, whose market has already reached US$ 100 billion”, says Transfero’s Director of Products and Partnerships, Safiri Felix.
ETH has maintained its upward trend throughout this year, even amid cryptocurrency market price fluctuations since the beginning of 2021. With the current price, the currency retains its position as the second-largest cryptocurrency after bitcoin, taking into account the market cap.
Ethereum is gaining momentum due to the growing popularity of decentralized finance (DeFi) and NFTs. Both technologies rely heavily on the Ethereum blockchain.
In addition, many attribute the rise in Ethereum’s price due to the launch of the Binance Smart Chain (BSC). This network has strong compatibility with the leading ETH network and allows the creation of smart contracts through it.
Ethereum record in BTC was in 2017
Taking into account the ETH’s bitcoin quote, ether’s all-time high was recorded in June 2017, when it was trading at the unbelievable figure of US$ 371.
What is Ethereum?
Ethereum is a blockchain capable of running smart contracts and decentralized applications (DeFi). Several well-known tokens are issued on this blockchain, such as the Brazilian cryptocurrency BRZ and the dollar tether (USDT). Recently, Ethereum has also been home to NFT tokens, which give the holder rights to digital files, such as works of art or music.
How to mine Ethereum?
To mine Ethereum, you need a computer with a standard processor and a video card, known as GPU (Discrete Graphics Processing Unit). Some of the video cards available on the market, such as Nvidia GTX 1070 and AMD RX580 will do the job. After purchasing your hardware, you need to install and configure the software to operate the mining. Among them are Geth, MinerGathe, Ethermine, and others.
How to buy and sell Ethereum?
Ether can be bought and sold on major cryptocurrency exchanges such as FTX.