First Time Ever Ethereum Hits $3000

First Time Ethereum Hits $3000
  • Ether hits $3000 for the first time in history.
  • Ether has the chance to overtake Bitcoin.

Ethereum (ETH) hits $3000, for the first time in history an altcoin has reached this high price. At the time of publication, Ether has reached $3,003 on Binance. The price of ETH has reached the milestone on several major exchanges which include By bit, Coinbase, and BitMex.

Furthermore, the open-source, blockchain-based, decentralized software platform is used for its cryptocurrency is Ethereum, it is used to build and run SmartContratcts and Distributors without any downtime, fraud, control, or interference from the third party. Ether (ETH) is the cryptocurrency of the Ethereum network.

Moreover, the flow has helped Ethereum overtake institutions such as The Walt Disney Company and Bank of America in terms of total market capitalization. According to the tracking website Infinite Market Cap, The world’s largest smart contract-enabled layer-one blockchain has grown 24% on the week to $346.72 billion.

Even more, this tremendous growth has even prompted Ether to overtake BTC as the world’s largest digital currency.  Issuing of a two-year digital bond worth $121 million in collaboration with banking concerns such as Goldman Sachs, announced by the European Investment Bank. Above $100 billion The Retail interest in decentralized finance has also been rising as of late.

The upgrades to the network expected to gradually decrease fees and reduce the amount of ETH rewarded to miners, which expects the decrease in sell-side pressure on the asset.

Furthermore, A host for the Ethereum educational media company Bankless,  David Hoffman. Who equated the various initiatives to the equivalent of three separate” halvenings”. Although, this is the event that takes roughly every four years when the Bitcoin block subsidy is slashed in half. Halvenings thought to contribute to Bitcoin’s price appreciation.

Moreover, In the form of other smart contract-enabled layer-one chains, Ethereum does have some competition. The growing popularity of Ethereum is partly to blame for exorbitant transaction fees on the chain.

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A Project Engineer by profession, a writer by passion. Especially into the critics and skeptics on cryptocurrency. His fascination towards the crypto world and his personal experience on it has made him a writer with a taste.