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- Ether values surged after the announcement by the European Investment Bank of its first-ever digital bond
- Bitcoin surge due to expiry of $4.2 billion options contracts
- Investor confidence in cryptocurrency receives a prominent boost
Autumn whispered to the wind, “I fall, but always rise again.” And conforming to this adage, Bitcoin rose to $4,500 in 24 hours. However, the surge in the value of Ether is even more phenomenal. Ethereum has been relentlessly working to scale its blockchain network, which has also evoked investor interest in Ether.
Ether values surge after the EIB announcement
Ether values have touched new landmarks, offering whole new possibilities to crypto investors. Livemint.com reports that the main reason for the surge is a recent announcement by European Investment Bank of its first-ever digital bond on the ethereum blockchain.
Bitcoin values, according to Livemint.com, is surging, and it has wiped out most of the losses it suffered at the fag end of April. Bitcoin values surged by 10% while Ether continued its blitzkrieg and was steady at a $2,850 level on Saturday. As per Coingecko. Bitcoin traded at $57,737.12 at 2.10 pm after fluctuating of $54,184.35-58,721.75 over the last 24 hours. Livemint.com reports that one of the causes for the rise in Bitcoin values was the expiry of $4.2 billion options contracts. Values of Cryptocurrency has historically risen after the expiry of contracts.
Boost in investor confidence in cryptocurrency
According to Livemint.com, several factors contributed to the surge in the values of Ether. It includes European Investment Bank bringing forth its first-ever digital bond on the ethereum blockchain. Shivam Thakral, CEO, BuyUcoin, said that the acceptance of Ether by such a reputed financial institution had increased investors’ confidence in the Ether crypto coin. The second-biggest cryptocurrency values fluctuated between the $2,742.25-2,872.84 range in the past 24 hours and finally settled at $2,848.74, representing a growth of 2.6%.
Steve Anderson is an Australian crypto enthusiast. He is a specialist in management and trading for over 5 years. Steve has worked as a crypto trader, he loves learning about decentralisation, understanding the true potential of the blockchain.
