Ethereum record high: European Investment Bank as price driver?


While Bitcoin is applying the brakes, Ethereum is stepping up a gear. The April balance sheet is impressive: No. 2 is already setting the third record high in a row.

The crypto market continues to iron out its weekend losses. Total market capitalization has risen by $ 260 billion since Monday, a good $ 150 billion away from its record high. Ethereum has come before it and just made a new all-time high of $ 2,709 today. The second largest cryptocurrency has weathered the wave of sales well. Ethereum has freed itself from the bottom with a 26 percent increase. At the time of going to press, Ether posted a price increase of four percent in the last 24 hours and is trading at $ 2,624.

With Bitcoin there is still a gap of 10,000 US dollars from the record mark, but the No. 1 is slowly taking the reins again. While the Bitcoin rate was pushed down to USD 47,400 on Monday, it has made up USD 7,000 since then. In a daily comparison, Bitcoin rose by 1.3 percent to USD 54,700, but slipped 2.6 points in a weekly comparison.

Profit-taking and subsequent purchases are currently shaping the overall picture on the crypto market. Of the ten largest cryptocurrencies, Binance Coin (BNB) posted the largest daily increase of 4.7 percent. Cardano (ADA) is up three percent, while Litecoin (LTC) is catching up 1.4 percent. XRP falls the furthest behind with four percent, with Dogecoin (DOGE), Polkadot (DOT) and Uniswap (UNI) the price discounts are in the moderate range between one and two percent.

European Investment Bank settles bonds through Ethereum

The Ether Rally is caused by a number of factors. How Bloomberg citing anonymous sources, the European Investment Bank (EIB) will process digital bonds worth 100 million euros (US $ 121 million) through Ethereum. The two-year digital bond will be issued under the leadership of Goldman Sachs, Banco Santander and Societe Generale. The EIB has not yet issued an official position.

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In addition, the sustained growth in the DeFi market serves as a constant price driver. According to Dune Analytics the number of DeFi users reached the record level of two million just a few days ago.

The total amount of Ether integrated in DeFi applications is Defipulse according to a record level of 11 million units. At the current exchange rate, this is equivalent to around 28 billion US dollars.

The DeFi sector on the one hand and a generally high ether demand on the part of investors on the other are increasingly scarce stocks, which also boosts performance. The stock exchanges are currently loud Glass node around 14 million ethers and thus almost 4.5 million fewer than a year ago. As a result, the share held by the Exchanges in the amount of ether in circulation has fallen from 16 to 12 percent in just one year.

In addition, the transaction fees are gradually returning to normal. Currently at an average of USD 10.95 per transaction, fees have fallen by USD 28 since the high for the year two months ago. A positive development: as costs fall, network activities increase. You can find out why the fees are falling again and what Flashbots have to do with them here.