On Monday, The Ethereum cryptocurrency (ETH) hit a record high of $3,017 (roughly Rs. 2.2 lakhs), extending a week-long rally fueled by reports that the European Investment Bank (EIB) may launch a digital bond sale on the Ethereum blockchain network.

The Ethereum cryptocurrency gained 2% on the Bitstamp exchange to reach the milestone early in Asia trade. It has risen more than 300 percent this year, outpacing the more popular Bitcoin’s 95 percent rise.

Ether is the digital currency or token that facilitates transactions on the Ethereum blockchain, and it is the second-largest cryptocurrency in terms of market capitalization after Bitcoin.

Bloomberg reported on Tuesday, citing unnamed sources, that the EIB intends to issue a two-year digital bond worth 100 million euros.

On Monday, Bitcoin was trading around $58,000 (roughly Rs. 43 lakhs).

In related news, Ethereum co-founder Vitalik Buterin recently donated 100 ETH and 100 MKR, totaling $606,110 (approximately Rs. 4.5 crores), to COVID-19 relief efforts in India.Ethereum, a 2014 open-source blockchain software, is used to build contracts on the blockchain and has recently received a lot of attention due to its use in the creation and transfer of non-fungible tokens (NFTs) — digital collectibles that can be uniquely identified and held by individuals.

Source : Gadegates