NEW YORK, March 10 — Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet another major cryptocurrency, Ether, has been enjoying its own...
In this file photo taken on January 27, 2020, a physical imitation of a Ethereum cryptocurrency is seen in Dortmund, western Germany. Launched in 2015, Ether, also known as Ethereum, is by far the second-largest digital currency in terms of total value, now estimated at over US$460 billion . — AFP picNEW YORK, March 10 — Bitcoin has captured the limelight in recent weeks as it surged to a new record high, yet another major cryptocurrency, Ether, has been enjoying its own meteoric rise.
Bitcoin’s rise has been well-documented, but Ether’s has been even more impressive, surging almost 72 per cent year to date in comparison to bitcoin’s 61 per cent rise.This strong performance is largely due to “expectations that an Ethereum ETF could be approved in the United States,” according to Dessislava Aubert of research firm Kaiko.
For Simon Peters of cryptocurrency exchange eToro, Ethereum is also buoyed by the prospect of “Dencun,” a major upgrade to the technology underlying this digital currency, scheduled for March 13. The two cryptocurrencies are not in direct competition, according to van de Poppe from MN Trading, because Bitcoin is “hard money,” while Ether “is basically an investment for the entire blockchain and smart contract ecosystem.”
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