[Blockchain Today Reporter Jieun Lee] Ethereum price has surpassed Bitcoin by surpassing 7% in the last 24 hours.
Ethereum (ETH) prices soared to an all-time high on the 28th after the European investment bank announced positive news.
According to CoinGecko, Ethereum rose to $2,709 in the initial transaction in Asia on the day, breaking the record for the highest asset price.
According to reports, the world’s second-largest digital asset by market capitalization gained 7% in the last 24 hours and 15.7% in the last 7 days. This move brought the ETH market cap to an all-time high of $312 billion.
Ethereum’s pricing factors vary, but Reuters analyzed that the news that the European Investment Bank (EIB) started selling’digital bonds’ using the Ethereum network had a big impact.
According to Bloomberg analysts, the EIB has issued digital bonds worth €100 million (approximately $128 million) over two years, with Goldman Sachs, Banco Santander and Society Generale. It is said to lead the sale.
Society General announced on the 23rd that its subsidiary, Society General SFH, issued 100 million euros of bonds as security tokens on the public Ethereum blockchain. That’s Moody’s and Fitch with the highest AAA ratings.
In an interview with Reuters, Danny Kim, head of revenue at cryptocurrency broker SFOX, told Reuters that “this news is another example of the surge in institutional use of ETH, and the decline in exchange balances is an example of an uptrend.” . He added, “The balance of Ethereum remaining on the exchange continues to decline and is the lowest in the past year. Because of the small supply on the exchange, it is unlikely to be sold in bulk.”
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