Ethereum breaks through $4,000 to all-time high

Ethereum breaks through $4,000 to all-time high

2021-05-10 08:23:00 PM

Ethereum breaks through $4,000 to all-time high

Second-largest cryptocurrency by market capitalisation jumps more than 6% to just below $4,175

10 May 2021 - 19:21Tom Wilson and Tom WestbrookPicture: DADO RUVIC/REUTERSLondon/Singapore — Cryptocurrency ethereum broke through $4,000 for the first time on Monday, climbing to a new peak for a third day in a row on bets it may find new uses, though some analysts said it was overvalued at current levels.

Roshan Morar’s fingers in every pie, including KZN education and SAA - The Mail & Guardian Former Zambian president Kenneth Kaunda dies Meghan Markle's book makes the New York Times Bestseller list | Channel

Ethereum, the second-largest coin by market capitalisation, jumped more than 6% to just below $4,175, and was last up about 2%.It has soared in 2021, fuelled by expectations of wider use, based in part on its role in decentralised finance — “defi” — platforms that facilitate crypto-denominated lending outside traditional banking.

An upcoming technical change to its software seen as reducing its supply has also provided a boost, while new institutional investors in the crypto sector have warmed to it amid a tepid quarter so far for bitcoin."(Crypto has) got a lot more institutional involvement than people who haven't followed the market believe,” said Chris Weston, head of research at brokerage Pepperstone. headtopics.com

“And everyone’s been in ethereum. It's not a meme joke coin, it actually has some application use,” he added, referring to its role in defi.But some analysts said ethereums increasing valuation was not underpinned by data of how widely it is used. “The continued divergence of its price relative to network activity raise questions about its valuation,” JP Morgan analysts wrote in a report to clients dated May 7.

Factors such as the number of active digital addresses in its network would be more consistent with a price of about $1,000, the US bank said.In the crypto world, the terms “ethereum” and “ether” have become synonymous. Technically, ethereum is the blockchain network in which applications are embedded, while ether is the token or currency that enables or drives the use of these applications.

Bitcoin, the largest cryptocurrency, rose to a three-week high above $59,600 on Monday. Dogecoin, a recent outperformer, stabilised after losses on Sunday after comments by Tesla CEO Elon Musk on the Saturday Night Live TV show, where he said it was a “hustle”.

Smaller cryptocurrencies, such as Dogecoin, known as “alt-coins”, have been in demand in the past few weeks, pushing bitcoin’s share of the overall $2.5-trillion digital currency market to its lowest in about two years.Dogecoin, which began as a social media joke in 2013, is up more than 700% in the past month. headtopics.com

Gigaba tells Zondo of SMS alleging Norma hired people to kill him Mabuza hailed as ‘exemplary leader’, ‘champion’ of transformation | Citypress South Africa’s youth are not ‘millennials’ - The Mail & Guardian

It was last trading at $0.51, after tumbling 38% in the last 24 hours on Musk’s comments. It later steadied after Musk’s commercial rocket company SpaceX said it would accept the meme-inspired cryptocurrency dogecoin as payment.The meme-based coin has become the fourth-largest digital currency, with a market capitalisation of $69bn, according to CoinMarketCap. It hit a record high on Thursday above $0.73.

Read more: Business Day »

LIVESTREAM: Ramaphosa answers NCOP questions

President Cyril Ramaphosa answers questions in a virtual plenary sitting.

I Hope Doge will do the same TradingMzansi Stick around Couple of months ago I came across a recommendation about Blakescott64 wealth how he helped investors to earn lots of money with their investments. and I decided to give a trial with the little I have. Now my little has turned into something great which was not my expectation

WATCH: Chaos as 9 dead in school shooting in central Russia | The CitizenAt least nine people were killed after shooting broke out Tuesday at a high school in the central Russian city of Kazan, local news agencies reported. The best choice I've made this year was investing in cryptocurrency and forex trading and earning from home. With the help of KevinKatch2 I've been earning ZAR60,353.00k weekly I've never regretted this decision fellow RSA, 🙏🏻 😥😥😥

Hamilton hopes new contract can be sealed by August summer breakSeven times Formula One world champion Lewis Hamilton hopes to agree a new contract with Mercedes before the sport's August break New month !!! bonus !!! Only 30 serious person's needed 💱 Work from home with your smartphone and start earning $3,200 every 48 hours and $7,600 weekly Ask me How No hidden fee No Charges involved No Scam Only serious minded person's WhatsApp number +13122700265 LewisHamilton is the GOAT!!

Rand at strongest in 16 months as risk appetite returnsThe local currency broke below the R14/$ mark for first time in 16 months, stretching last week’s rally, which was supported by bond inflows

Zidane bewildered by handball decision as Real title hopes slipCoach breaks his own rule on referees to remonstrate with official

Worker tells court how Chinese nationals, accused of human trafficking, abused 'staff'Fraser Aufi, a Malawian national, testified in the Johannesburg High Court today. Foreigners from various nations come here to commit crime bcos kuLoose yile nkukuma yeGovt! Chinese and malawians, both illegal immigrants, this reflects badly on the South African govt, but I guess they don't care Bits lest keep selling everything to China. Blacks like to bitch and moan everything white, can wait to see what they got to say when the Chinese own everything