Today May 3 Ethereum manages to reach $ 3,199 thus achieving a market capitalization of $ 358,992,031,434. This allows the second cryptocurrency to outperform companies like The Walt Disney Company and Bank of America in total market capitalization. Ethereum has had a growth of 24% in a week compared to Bitcoin, which has experienced a very slow rise in its price.
In a previous article, I had mentioned that this increase could influenced by several factors, among which are:
The European Investment Bank announced that it issues a two-year digital bond worth $ 121 Million Dollars; this digital bond would created under the Ethereum blockchain.
The transition from ETH 2.0 to a proof-of-stake consensus model can help significantly reduce the commissions of the Ethereum network, thus attracting more investors to it.
Another point to take into consideration is the interest of large institutional investors in investing in Bitcoin as a store of value and if they want to diversify their investments, Ethereum would be the next, thus attracting even more capital.
The popularity of the different video games created on the Ethereum network can also influence the price increase, but in a slightly lesser way.
The mistrust that different governments have managed to create in their citizens with the economic policies they implement can help further awaken people's interest in investing in Bitcoin and Ethereum as a store of value.
Do you think Ethereum will manage to hit new highs or even match the price of Bitcoin?
You can leave your answers in the comments.
