ETH, the cryptocurrency of Ethereum, reached and exceeded $ 3.000, reaching a peak of $ 3.105. As a result of this increase in the market price by the second largest cryptocurrency in the world, the capitalization of Ether is now greater than that of Bank of America and Walt Disney. Thanks to a 34% boom in the last week alone, with a market cap value of 357 billion dollars. A significant figure, but still extremely distant compared to the main digital currency, Bitcoin, whose capitalization is just under $ 1.100 billion.
But why is Ethereum in such great shape?
The reasons for the growth of the cryptocurrency are quite numerous, but the main and first is the continuous increase of the activity on the blockchain by the institutions. The EIB has for example announced the launch of a digital bond on Ethereum equal to 121 million dollars, in collaboration with some large banks such as Goldman Sachs, Banco Santander, Societe Generale.
In addition to the institutional one, the retail segment is also growing. Interest in decentralized finance continues to increase significantly.
According to some analysts to change the Ethereum price it could also have been the hard fork London, which includes the EIP-1559 revision, aimed at reducing the cost of commissions. Furthermore, the move to a Proof-of-Stake consensus model is getting closer with the Ethereum 2.0 update.
In short, the reasons behind this push seem to be numerous and, probably, capable of instilling a consistent and lasting push to what is the second most important cryptocurrency in the world in terms of capitalization. We will see if, and in what way, the next few days can offer hope of consolidation to ETH.