Key Points
New York, Mar 10, 2024 -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.. 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 $460 billion...
Along with other cryptocurrencies including Solana and Dogecoin, it benefited from the regulatory approval in the United States of a new bitcoin investment product, the exchange traded fund -- or ETF -- in mid-January, said James Butterfill of the investment company CoinShares...
Bitcoin's rise has been well-documented, but Ether's has been even more impressive, surging almost 72 percent year to date in comparison to bitcoin's 61 percent 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...
"Ethereum has started to wake up as investors are anticipating a potential approval," Michael van de Poppe of MN Trading told AFP, adding that "people are rotating from Bitcoin to Ethereum as a potential investment opportunity."..
Ethereum has already successfully negotiated two major technical transformations in recent years, including the switch to a less energy-intensive system in September 2022.. James Butterfill said there is "increasing optimism" that a "Dencun" upgrade will "go without a hitch," which would reinforce the currency's credibility...
