Cryptocurrency Ether (ETH) hit a record high of $3,017 (roughly Rs. 2.2 lakhs) on Monday, extending last week's rally in the wake of a report that the European Investment Bank (EIB) could launch a digital bond sale on the Ethereum blockchain network.
Ether rose 2 percent on the Bitstamp exchange to hit the milestone early in Asia trade. It is up more than 300 percent for the year so far, outpacing a 95 percent rise in the more popular Bitcoin.
Ether is the digital currency or token that facilitates transactions on the Ethereum blockchain and it is the second-largest cryptocurrency by market cap behind Bitcoin.
Bloomberg reported on Tuesday, citing unnamed sources, that the EIB plans to issue a two-year 100-million-euro digital bond.
Ethereum co-founder Vitalik Buterin recently donated 100 ETH and 100 MKR, worth approximately $606,110 (roughly Rs. 4.5 crores), for use in COVID-19 relief in India. Ethereum, the open-source blockchain software founded in 2014, is used to build contracts on the blockchain, and has recently been in the news a lot because of its use in the making and transferring of non-fungible tokens (NFTs) — digital collectibles that can be uniquely identified and held by individuals.
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