The second largest art money in the world after Bitcoin has crossed the $ 1,600 threshold for the first time.
Ether, the second largest crypto currency after Bitcoin, rose to a record high on Wednesday for the first time above the threshold of 1,600 US dollars. On the Bitfinex trading platform, the price rose to $ 1,623 (1,347.56 euros).
Big market share
This is the highest price ever for Ether. The respective maximum rates may differ on other trading venues for digital currencies, of which there are numerous.
After Bitcoin, ether has the largest market share of all cryptocurrencies. It is currently around 16 percent. This also highlights the overwhelming dominance of Bitcoin, which currently has a market share of around 60 percent.
Ether initially benefited little from the price rally that pushed Bitcoin to a record high of $ 42,000 in early 2021. Since the beginning of the year, however, Ether has increased significantly, while the Bitcoin price has tended to decline.
Trendsetting technology
Like Bitcoin, Ether is based on the future-oriented blockchain technology, which corresponds to a kind of decentralized database. Ether focuses on so-called “Smart Contracts”. These are small computer programs that can set automatic processes to run.
For example, it is conceivable to link a payment process with legal processes such as the transfer of ownership. One focus of Ether is the decentralization of financial services.
