Cryptocurrency Ethereum (CRYPTO: ETH) is seeing a sharp rise in valuation in recent days, which comes as other cryptocurrencies like Bitcoin (CRYPTO: BTC) have hit all-time highs since the 2024 election.
While Ethereum has gained less than Bitcoin in 2024 and trades below its all-time highs set in 2015, investors who bought the cryptocurrency years ago are still profitable on their trades.
What Happened: Ethereum co-founder Vitalik Buterin proposed Ethereum in 2014 via a white paper. The cryptocurrency officially launched in 2015 and has been one of the most well-known and valuable cryptocurrencies since that time.
Many well-known cryptocurrencies had impressive runs in 2021. Ethereum was a big gainer in 2021 going from $737.71 to $3,682.63.
One of the factors that helped Ethereum in 2021 was increased interest and massive valuations for non-fungible tokens.
Larva Labs launched CryptoPunks on …
Full story available on Benzinga.com