Ethereum, the second-largest cryptocurrency market capitalization, is expected to have its price surpass $5,000 within a week.
Ethereum, which surpassed $3,000 the previous day, surpassed the $3,400 mark in just one day.
As of 7:30 a.m. on the 4th (GMT+7), Ethereum is recording $3428. It is up 16.21% from 24 hours ago on CoinMarketCap, a global cryptocurrency (virtual currency) live broadcasting site.
Ethereum’s market capitalization is $39.9 billion. This is 40 percent of Bitcoin’s $1 trillion market capitalization.
The recent surge in Ethereum is due to a series of positive factors, with the European Investment Bank reportedly planning to issue 100 million euros of “digital bonds” using Ethereum.
In addition, the price of Bitcoin is so high that demand for Altcoin (cryptocurrency other than Bitcoin) explodes. And Ethereum, the second-largest market capitalization, is especially in the spotlight.
As a result, Ethereum is expected to surpass $5,000 within the next week.
Nigel Green, founder of cryptocurrency company Dvir Group, said in an interview with CBS MarketWatch, “The biggest beneficiary of the recent surge in cryptocurrency is Ethereum. It will surpass $5,000 within a week.”
“The price of Bitcoin has risen so much that demand for Altcoin has recently exploded,” he said. “Ethereum is the biggest beneficiary.”
At the same time, Ethereum is trading at $3,800, up 18.72 percent from 24 hours ago.