Ethereal’s recent surge comes on the back of The European Investment Bank’s decision to release an Ether based digital bond. The two-year, 100 million Euro digital bond will be sold by some prominent financial institutions, including Goldman Sachs.
Etherium (or simply Ether) is a digital currency run on a decentralised digital network (which is also called Ethereum) on which smart contracts are arranged. The thing that differentiates Ether from other cryptos such as Bitcoin is that it is part of a decentralised finance (DeFi) system. This is likely due to several other ‘altcoins’ penetrating the market this year, including, Dogecoin - the crypto which began as a joke satirising other cryptos. The price of Dogecoin has been bolstered by Tweets from Tesla (NASDAQ:TSLA) founder, Elon Musk as well as other celebrity mentions by Dallas Maverick’s owner, Mark Cuban and American rapper Snoop Dogg.