Here is our Ethereum price analysis for May 2021! Stay with us to find out if the Ethereum May rally can be sustained throughout the rest of the month.
The 2nd largest cryptocurrency by market cap ethereum, the digital token of the Ethereum blockchain, topped $3,000 on Monday, hitting an all-time high and stealing attention away from the world’s largest crypto, Bitcoin.
Ether’s price rose about 8 percent Monday morning and exchanged hands at about $3,150 as of 6:45 a.m. ET, according to data from Coinbase. The token’s up more than 300 percent for the year so far, handily outpacing Bitcoin’s 95 percent rise on the year.
The rapid rise of Ethereum comes as excitement around DeFi, or decentralized finance, grows and investors see strong potential on the Ethereum blockchain for more applications. The decentralized finance movement seeks to largely replace banks with blockchain technology as the home of financial transactions like borrowing, lending and trading.
Increasingly, institutional investors and major US companies are embracing the crypto world. Helping Ether’s price break past $3,000, Bloomberg reported last month that the European Investment Bank plans to issue a digital bond over the Ethereum blockchain.
Watch the full video for our take on the Ethereum May 2021 price analysis and a deeper insight into what to expect from the cryptocurrency in the weeks ahead. And drop us a line in the comments with your thoughts on our Ethereum price prediction.
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