Cryptos

Ethereum rally continues, with price topping $3,000 for first time

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Ethereum, the word’s second-largest cryptocurrency by market cap, topped $3,000 for the first time Sunday.

As of Sunday night, ethereum ETHUSD, +2.88% was at an all-time high of $3,035. Just a year ago, it traded for about $208 — an increase of 1,359%, according to data from Kraken. This year alone, ethereum is up 310%. Its price has surged 25% in the past seven days, and the digital asset now has a market cap of about $350 billion, according to CoinMarketCap.com.

Ethereum’s meteoric rise has outpaced that of even bitcoin BTCUSD, +1.92%, which has shot 551% higher over the past year, and is up 100% in 2021 — most recently around $58,000.

Its recent rally comes after the European Investment Bank last week announced that it had issued 100 million euros in two-year notes, using the ethereum blockchain for the first time.

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