ETH continued its rally last week, setting a new all-time high above $3,100. The rally saw ETH’s total market cap surpass the $350 billion mark and Vitalik Buterin becoming one of the youngest cryptocurrency billionaires.
Ether surpasses $3,000
Ether, the second-largest cryptocurrency by market cap, set a new all-time high above $3,100 a few hours ago. This comes as the cryptocurrency rallied flawlessly so far this year, rising by more than 100% in the past few weeks.
The asset topped the $3,000 mark yesterday and continued its rally until it reached a new all-time high close to $3,200 on cryptocurrency exchanges. In fact, since the start of the year, ETH is up by 325%. This makes it one of the best-performing cryptocurrencies in the world. At its current level, it is outperforming Bitcoin, which is up by more than 100% year-to-date.
Thanks to the new all-time high, Ether’s total market cap surpassed $350 billion for the first time. It remains the second-largest, with a market cap just above $360 billion at the moment. It is still behind Bitcoin ($1 trillion) while Binance Coin (BNB), in third place, has a market cap of $96 billion.
Buterin becomes one of the youngest crypto billionaires
Vitalik Buterin, the co-founder of Ethereum, has become one of the youngest cryptocurrency billionaires in the world. The 27-year old shared his ETH address in October 2018 to disclose his personal holdings.
At the time, the address held 333,520 ETH, which is worth over $1 billion at Ether’s current price. Buterin also revealed that he has other Ether addresses, but they contain only a small amount of ETH.
Ether’s price could rally further over the coming months as the network continues its progress towards switching to a proof of stake protocol. The switch to ETH 2.0 is expected to make the Ethereum blockchain faster and the transactions cheaper. This could help attract more projects to the network.
Analysts are bullish on Ether’s price, and if the price soars higher in the coming months, then Buterin’s worth would increase as well.