JAKARTA - Cryptocurrency number two, Ethereum managed to touch the all-time high level on Wednesday, April 28, 2021. The price of Ethereum has increased to reach USD 2.713 (approximately IDR 39.35 million) today.
The skyrocketing price of Ether was due to the busy news of the European Investment Bank (EIB), which recently issued its digital bonds. EIB sells these digital bonds using the Ethereum Blockchain network.
EIB is scheduled to issue digital bonds with a total price of up to 100 million euros. Banking institutions such as Goldman Sachs, Societe Generale, Banco Standard will lead the sale of the bonds, as summarized by Bloomberg.
Crypto broker, Danny Kim revealed that the news regarding the issuance of EIB's digital bonds was a trigger for "an increase in institutional use of Ethereum", said Kim, who also serves as SFOX Head of Revenue, quoted by Reuters, Wednesday, April 28.
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Kim also revealed another factor that caused the price of Ethereum to rise, namely the reduced supply of the number two cryptocurrency on the market. This has also triggered the rise in the price of Ether in the last few days.
"The number of Ethereum on the stock exchange continues to fall lower and is the lowest in the past year", said Kim.
"With less supply on the exchange available, it is unlikely that there will be a major sell-off", added Kim.
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