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This new cryptocurrency sprung up faster than the dollar, prices rose by 500%, investors benefited

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The popularity of cryptocurrency ether is increasing rapidly these days. On Wednesday, its price surpassed even the dollar. Value is constantly increasing due to the interest of investors in it.

Cryptocurrency ether

Nowadays, in the era of digitalization, the popularity of cryptocurrency is increasing rapidly. Their prices are constantly increasing due to their support to other big investors including Elon Musk. On Wednesday, the price of the new cryptocurrency Ether surpassed the dollar. On 12 May 2021, it touched a new high of $ 4,649.03.

This year, ether cryptocurrency has gained more than 500 percent against the dollar. This led to strong profits for those investing in ether cryptocurrency. It is known that ether is the second most popular cryptocurrency in terms of capitalization (market cap) after the most popular cryptocurrency bitcoin. The reason for such a surge in the value of ether is the increased use of ethereum blockchain by cryptocurrency platforms. This helps in the landing of crypto outside the scope of banking institutions.

Investing in cryptocurrency will be easier

Analysts at US bank JP Morgan say that open interest in CME Ethereum Futures has risen to $ 54 million in three months. There was a similar increase in CME Bitcoin futures during the year 2017. The popularity of cryptocurrency is increasing among institutional investors. This will also increase the interest of people in Ethereum futures. This will make investing in cryptocurrency easier in the coming days.

These cryptocurrencies dominated

These days, all the cryptocurrencies have captured the market. Interest of investors is increasing in them. From Bitcoin to Dogecoin, SHIBA, there is a steady increase in the value of all cryptocurrencies. Bitcoin has gained about 95 per cent this year. Tesla has started accepting bitcoin for payment. In such a situation, investors are increasingly attracted towards it.

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Bhagyashree Soni
Bhagyashree Soni is a software engineer with soft writing skills. She is a degree holder from the International School of Entrepreneurial Leadership. She has been a state-level badminton champion and chess player. A woman with a forthright attitude enjoys her writing passion as her chosen career. Writing in the context of feminism, social-cause and entreprenurship is her forte.
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