The price of the cryptocurrency scratches at $ 1,500
Ethereum price reached new record high. (Image: AlekseyIvanov / Shutterstock)
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Ethereum, the second largest cryptocurrency after Bitcoin, has hit a new record high. The Ethereum rate reached $ 1,476, doubling since the start of the year.
At the beginning of last week, Ethereum / Ether reached the $ 1,400 mark for the first time in three years. The price of the digital currency climbed to over $ 1,430, which was an all-time high. After falling to below $ 1,100 on Friday, the Ethereum price took off at a new record over the weekend – and hit it on Monday morning.
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Ethereum is worth twice as much as it was on January 1st
Overall, it went up to $ 1,476 like that Handelsblatt writes. An increase of seven percent compared to the previous day. That doubled the course since the beginning of the year. For comparison: Bitcoin, the industry leader, has posted a plus of “only” 17 percent since January 1st. However, the number one cryptocurrency had already reached its all-time high of around $ 42,000 on January 8th. That is more than twice as much as the previous record from three years ago.
Accordingly, investors had discovered Ethereum and other so-called Altcoins for themselves. The Ethereum competitor Polkadot for example, had recently also reached a new all-time high and recently catapulted itself to fourth place in the crypto ranking. The idea of the investors behind the run on altcoins: There is still room for improvement with Ethereum and Co. until the prices have doubled compared to the last record phase in 2017/18. Currently, however, speculation, especially the Ethereum course, is that the cryptocurrency will not be classified as a security by the US stock exchange regulator. This would mean that Ethereum / Ether would escape the threat of stronger regulation.
SEC lawsuit against Ripple causes XRP course to crash
In the case of the competition from Ripple Labs and its digital currency XRP, such an SEC classification as a security had led to a lawsuit and the subsequent crash of the XRP rate. Now XRP is even on the brink of extinction. On the one hand, however, due to its central approach, XRP is not necessarily comparable to other crypto currencies such as Bitcoin or Ethereum. In addition, a billion dollar IPO also plays a role in the current dispute with Ripple Labs.
The influence that speculations by US officials about possible tightened regulatory projects can have was recently shown by the Bitcoin price of all things. According to statements by Janet Yellen, the new US Treasury Secretary of the Biden administration, the Bitcoin price slipped briefly below the $ 30,000 mark. Several supervisory authorities such as the British FCA or the German Bafin had warned investors in the past few days against investing in the crypto industry.
