What is one thing that Visa, Mastercard, JP Morgan Chase, and Walmart have in common? If you said that they all have less of a store of value than Ethereum, you’re correct. Ethereum, the world’s second largest cryptocurrency–but the world’s most widely used blockchain–has been a tear throughout 2021 as its applications and exposure increase.
Having surpassed $500B in market cap value–it currently has dipped to $498B–in the last month Ethereum has risen from the world’s 25th biggest asset–by market cap–to its 13th. The current price of each ether token is in the area of $4300, upwards to six times more than the $730 price it held at the beginning of the year, and it is up more than 2200 percent over the $188 per token price that it held this time last year.
For some readers, this begs the question, “What is Ethereum if not just a cheaper version of bitcoin?” I’ll address questions like that in posts to come in the next few days. For now, I just wanted to introduce readers to the existence of Ethereum and let you know that it is indeed becoming a force in the global financial market.
Be well. I’ll see you back here soon.