As Bitcoin Continues To Slump, Ethereum Seems Unstoppable

HeadlinesNewsAs Bitcoin Continues To Slump, Ethereum Seems Unstoppable

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As Bitcoin Continues To Slump, Ethereum Seems Unstoppable

NewsBTC2 weeks ago
Published on April 29, 2021 11:57 GMT+0edited on April 30, 2021 12:02 GMT+0

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Bitcoin is struggling to sustain above the $53,000 support for the past 3 days. As the king cryptocurrency price slumped, Ethereum picked up its pace, surging to a new all-time high of $2,800.

Ethereum Appears Unstoppable

It appears that the European Investment Bank’s launch of a “digital bond” sale using the Ethereum network, has boosted Ethereum’s price. The EIB is issuing a two-year digital bond worth 100 million euros ($120.8 million), led by Goldman Sachs, Santander, and Societe Generale.

Furthermore, JP Morgan published a research note last week claiming that due to improved liquidity and increased network activity, Ether should continue to outperform Bitcoin.

According to fixed-income analyst Joshua Younger:

“Bitcoin is more of a crypto commodity than …