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- On Tuesday, ETH prices took off past $3,000, making Vitalik Buterin the world’s youngest cryptocurrency billionaire.
- ETH’s near 381% increase this year is attributed to its catching up to BTC’s late 2020 rally and recent Ethereum blockchain updates.
- Buterin, the Ethereum creator, is now also the second youngest self-made billionaire behind only Austin Russell.
The Tuesday crypto market bull rally was an absolute blast; with so many coins surging to new highs, May 4 was a crypto feast for investors. As for Vitalik Buterin, co-founder of Ethereum, the relish was amplified many times over when Ether (ETH) took off past $3,000, making 27-year-old Buterin the world’s youngest crypto billionaire.
ETH Price Rally
Ethereum’s native token, Ether (ETH), is the second-largest cryptocurrency by market cap. Based on CoinMarketCap’s data, in the past 24 hours, ETH touched an all-time high of $3,523.59 and is trading at $3,347.73 with a market cap of $387.5 billion at present. Compared to the start-of-the-year price of $732.61, the figure represents an almost 381% increase.
Crypto traders attribute the price gains to the ETH catching up to BTC’s late 2020 rally and the recent Ethereum blockchain updates making it more useful.
Billionaire Buterin’s ETH Holdings
According to an Etherscan.io address disclosed by Buterin in October 2018, the Ethereum creator holds over 333,521 ETH tokens in his main wallet that accounts for more than $1.11 billion today. The ETH surge made Buterin the youngest cryptocurrency billionaire and the second youngest self-made billionaire after Austin Russell.
World’s Youngest Self-Made Billionaires
According to his Forbes profile, Austin Russell founded the automotive sensor firm Luminar Technologies in 2012. It went public in December 2020. Following Luminar’s Nasdaq listing, Russell became the world’s youngest self-made billionaire at age 25. At present, the 26-year-old billionaire has a net worth of $2.6 billion.
Vitalik Buterin is a Russian-Canadian programmer and writer who proposed and founded Ethereum in 2013 and 2014. Before Ethereum, he also co-founded and wrote for Bitcoin Magazine with Mihai Alisie in 2011. Not so long ago, Buterin made headlines for his donation of about $600,000 in Ether (ETH) and Maker (MKR) to a COVID-19 relief fund for India.
Andrew is a blockchain developer who developed his interest in cryptocurrencies while pursuing his post-graduation major in blockchain development. He is a keen observer of details and shares his passion for writing, along with coding. His backend knowledge about blockchain helps him give a unique perspective to his writing skills, and a reliable craft at explaining the concepts such as blockchain programming, languages and token minting. He also frequently shares technical details and performance indicators of ICOs and IDOs.
