Ether Cryptocurrency Breaks a New-Record — Following Bitcoin’s Bullish Run

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Ether vs Bitcoin
Ether vs Bitcoin

Ether the second largest digital cryptocurrency by price and market capitalization has just broke a new record. The digital token surged to $1,936 on Thursday, in conjunction with the Bitcoin (BTC) bullish run.

 

While Bitcoin surged over 78% since the start of the year; Ether saw 160% increase. The Bitcoin rally had helped other altcoins surge especially with the growing financial institutions in cryptocurrencies.

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Since the start of 2021, Elon Musk’s Tesla invested $1.5 billion in Bitcoin. On the other hand, MicroStrategy lifted its debt offering to $900 million to invest it in Bitcoin. Morgan Stanley also announced that they’ll be investing a breath-taking $150 billion in BTC.

 

Additionally, Bank of New York and MasterCard both announced that they will endore the digital currency. Consequently, the growing financial institution in Bitcoin helped drive the price of Ether to a new all time high flirting with the $2000 mark.

 

 “The ether slingshot is in motion, with the number 2 coin looking cheap and posed to surge relative to bitcoin’s $52k level,” Jehan Chu, co-founder of trading firm Kenetic Capital, told CNBC.